December – 2015 Practice Update covers following points Reminder of small business tax cuts ATO supporting small business to implement SuperStream ATO reviewing taxable payments annual reports Guidance regarding the payment of death benefits ATO’s Visa Data Matching Program Click here for – December – 2015 Practice Update
November – 2015 Practice Update covers following points Immediate deductibility of capital start-up expenses Data matching program – on eBay online sales New multi-agency approach to fight serious financial crimes ATO and United States IRS share bank information Small Business Protections from unfair contract terms ATO moves on cafés & restaurants The ATO and its…
Operating & running your own business can be very rewarding. It is always good to have a basic understanding of the compliance requirements set by the ATO. However, with rules constantly changing, it can be difficult to keep up and safely determine the claims that can be made within your industry benchmarks. Listed below are…
October – 2015 Practice Update covers following points GST on all (taxable) online transactions from 1 July 2017 NZ changes to GST imports to affect our exporters Holiday rentals under the microscope Credit and debit cards data-matching program Taxpayers can apply to the ATO for a market value ruling Pay GST instalments quarterly and report…
September – 2015 Practice Update covers following points ATO’s apps and other online tools The ATO’s new approach to dispute resolution ATO data matching program – visa holders New guidance from ATO regarding GST for Uber (and similar) drivers Registering an SMSF for an ABN Click here for – September – 2015 Practice Update
August – 2015 Practice Update covers following points Data matching to be expanded on individual returns Three more tax changes for small business Reasonable Overtime Meal Allowance Amounts – 2015/16 Builders and contractors annual payment report Change to the way taxpayers claim work-related car expense deductions 81 year-old WA pensioner loses $110,000 in tax scam Tax…
July – 2015 Practice Update covers following points Government moves to get Single Touch Payroll right SuperStream date extended for medium to large employers ATO increases focus on rental property deductions ATO is using SMS messages to try and clear debt ATO warns over-claiming is easier to detect than ever Depreciation for farmers brought forward…
2014/15 Individual Tax Return Checklist Common work-related claims made by individuals Depreciable plant, etc, costing $300 or less Clothing expenses Self education expenses Other work-related expenses 2014/15 Year-end Checklist for Business Maximising deductions for non-SBE taxpayers Prepayment strategies – non-SBE Accelerating expenditure – non-SBE Accrued expenditure – non-SBE Maximising deductions for SBE taxpayers Accelerating expenditure –…
June – 2015 Practice Update covers following points ATO warns about aggressive phone scams Holiday homes that taxpayers rent out Early access to super for people with terminal illness Consider buying house in spouses name if used partly for business The sharing economy Tax help for people affected by severe weather in NSW ATO’s new appeals…
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