16 July 2019 If you’re one of the many Australians who own an investment property, now is the time to take stock of your incurred expenses and work out what you can claim as a rental property tax deduction, and what you need to declare as income. Income First...
15 July 2019 The Federal Government’s Personal Income Tax Plan has now become law, delivering tax relief for millions of Australians. The plan has three phases Phase one is the Low and Middle Income Tax Offset (LMITO) Increase the LMITO from a maximum amount of...
9 July 2019 The ATO is airing the ‘dirty laundry’ on work-related clothing and laundry expenses warning that it is closely reviewing claims. “Last year around 6 million people claimed work-related clothing and laundry expenses, with total claims adding up to nearly...
8 July 2019 On July 1, Single Touch Payroll (STP) became mandatory for all employers. What do you need to know? STP requires you to have your payroll transaction data transferred to the ATO each time your employees are paid. This may require you to use a software...
25 June 2019 Work-related car expenses will be on the ATO radar this tax time. According to the ATO, over 3.6 million people claimed work-related car expenses last year (17-18), equating to more than $7.2 billion dollars worth of claims. Assistant Commissioner Karen...
21 June 2019 There’s recently been big tax law changes that may reduce the tax deductions for many businesses across Australia. This may happen if you: 1. Don’t lodge your BAS’s on time; or 2. Don’t lodge your payroll each week using Single Touch Payroll (STP); or 3....
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