The ATO is reminding taxpayers that have a residential rental property, to take care when making claims for ‘second-hand depreciating assets’ used in their properties.
Small business tax incentives for training and upskilling employees and improving digital and tech capacity are back on the table.
The Federal Government has expanded the list of State and Territory COVID-19 grant programs that may be tax-free to eligible businesses.
The ATO focus is on four major concerns relating to rental properties this tax season.
The ATO is warning taxpayers to not engage in ‘asset wash sales’ or other forms of tax avoidance to artificially increase their losses to reduce gains (or expected gains).
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 changed its approach and compliance response, with family trust distributions on the hit list. Earlier this year the ATO released guidelines using ‘risk’ categories for trust distribution arrangements, indicating that the ATO is taking a more aggressive approach to investigating trust income distribution. It is expected that many family groups will pay…
The ATO is writing to taxpayers whose credit rating may be affected if their tax debts are disclosed to credit reporting bureaus.