Federal Treasurer Dr Jim Chalmers delivered the latest Federal Budget from Parliament House in Canberra on Tuesday 9 May 2023. The ‘ace in the hole’ of the 2023-24 Federal Budget was the $4.2bn surplus; the first in 15 years driven by a surge in the corporate and...
More than 10 million middle-income Australians will face one of the largest tax increases in history after the May federal budget, as households deal with rapid increases in interest rates and cost-of-living surges. It is believed that Treasurer Jim Chalmers will not...
As the cut-off date for the instant asset write-off program approaches on June 30, 2023, many businesses are feeling the pressure to take advantage of the program before it ends. During the pandemic, the federal government introduced temporary full expensing that...
In the last few years, you might have noticed some ATO correspondences being sent to your myGov account inbox or being posted to you, instead of being sent to your accountants at Shakespeare Partners. As a business owner, you have a few options regarding communication...
Taxpayers claiming deductions on holiday homes are in the ATO’s sights. The ATO is more than a little concerned that people with holiday homes are claiming more deductions than they should and have published the starting questions they will be asking to scrutinise...
The Australian Taxation Office (ATO) has updated its approach to how you claim expenses for working from home. The ATO has ‘refreshed’ the way you can claim deductions for the costs you incur when you work from home. From 1 July 2022 onwards, you can choose either to...
Recent Comments