Recent changes to superannuation include superannuation guarantee changes and downsizer contribution age changes.
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.
The ATO has announced four key priorities that it will focus on this 2022 tax time.
The ATO is writing to taxpayers whose credit rating may be affected if their tax debts are disclosed to credit reporting bureaus.
In a little bit of good news, Australians with private health insurance will NOT see decreases to the Private Health Insurance rebate from 1 April.
The Taxable payments annual report (TPAR) must be lodged by 28 August each year. Taxpayers who operate in certain industries and that make payments to contractors may need to report these payments in a TPAR.
If you have been claiming the JobMaker Hiring Credit, please be aware that the ATO will now calculate an adjusted baseline headcount for the claim.