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…
With the move by the Reserve Bank to cut the cash rate to 2.00% earlier this month, bank interest rates are at historic lows. In the recent years of interest rate drops the property market has experienced significant growth in capital cities. Despite the more affordable borrowing rates, consumers are faced with the struggle of…
Take a moment to stop and think for a minute. Have you ever considered how your family would fare if you were suddenly unable to work through sickness or injury? Paying off the bills and managing the everyday expenses is hard enough as it is with an income, let alone without one. Under such a…
The end of financial year 2015 is looming and once again, it is that time of the year where you need to lodge your tax returns. In conjunction with lodging in tax returns, you may want to reassess your superannuation fund to obtain the most tax-effective strategy for the year-end tax planning. How can superannuation…
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