The Administrative Appeal Tribunal (‘AAT’) has held that a taxpayer could not claim $91,239 of input tax credits (‘ITCs’) at least partly because it lodged the relevant BASs more than 4 years too late.
The Federal Government has expanded the list of State and Territory COVID-19 grant programs that may be tax-free to eligible businesses.
The Federal Government has reinstated the Pandemic Leave Disaster Payment until 30 September 2022.
The ATO focus is on four major concerns relating to rental properties this tax season.
The ‘cents per kilometre’ rate change has been implemented by the ATO for individual car expenses for the 2023 income year, from 72 cents to 78 cents per business kilometre.
The ATO has announced areas of focus for small business tax returns will include deductions that are not related to business operations, omission of business income and insufficient record keeping practices.
Single Touch Payroll (‘STP’) reporting has been expanded with extra reporting obligations for employers.
The ATO is warning taxpayers about GST fraud and to be on the lookout for dodgy online ads, often on social media platforms, promising easy GST refunds.
Taxpayers are warned not to ’double dip’ on tax deductions. Here are three common items that are often claimed twice.
The ATO has announced four key priorities that it will focus on this 2022 tax time.