Our latest eNewsletter outlines key announcements from the 2025 Federal Budget, including the following topics: Personal Taxation Business Taxation Other Measures Superannuation

Our latest eNewsletter includes information on the following topics: ASIC warns of scammers impersonating Bunnings with fake investment bonds – If you’ve spotted what looks like an amazing investment opportunity from Bunnings recently, beware. Claiming tax deductions for vacant land – You need to meet a number of strict conditions to claim interest payments on relevant loans[…]

Our latest eNewsletter includes information on the following topics: Recovering from a natural disaster: what you need to know about tax – As Australia experiences another summer of unpredictable weather patterns, it’s essential to be prepared for the unexpected. Changes coming for buy now pay later services – If you’re one of the millions of Australians[…]

Our latest eNewsletter includes information on the following topics: Understanding the Australian Government’s plan for cash and cheques – As digital payments become increasingly prevalent, the government has announced it’s taking significant steps to modernise the nation’s payment system. Proposed changes to HELP loans could mean lower repayments in 2025 – If you’re one of[…]

Our latest eNewsletter includes information on the following topics: Do you rent out your holiday home? – If your holiday home is rented out, the rental income you receive is taxable, and you can claim expenses for the property to the extent they’re incurred in earning that rental income. Is your business BAS-ready? – Now is a[…]

Our latest eNewsletter includes information on the following topics: Tax consequences of sharing your home – Rental and some sharing situations will affect your assessable income and what expenses you can claim at tax time. Unlocking value: subdividing your family home’s land – For retirees living on larger properties, subdividing and selling unused land can be a[…]

Our latest eNewsletter includes information on the following topics: Claiming the tax-free threshold: getting it right – If you’re an Australian resident for tax purposes, you don’t have to pay income tax on the first $18,200 you earn each year. Withholding for foreign residents: an ATO focus area – Does your business make payments of interest, dividends[…]

Our latest eNewsletter includes information on the following topics: Regulations coming for “buy now, pay later” market – A Bill currently before Parliament aims to extend the application of the Credit Code to BNPL contracts and establish low cost credit contracts as a new category of regulated credit. Deducting gifts and donations: getting it right at tax[…]

Our latest eNewsletter includes information on the following topics: Tax time scams: be on guard – Using unsolicited contact via SMS, email or on social media, ATO impersonators frequently offer refunds or assistance in resolving tax issues or suggest suspicious activity on a taxpayer’s account. Tax time 2024: claiming working from home expenses – Claiming work-related expenses is[…]

Our latest eNewsletter includes information on the following topics: Get ready for tax time 2024 – The ATO has recently flagged some primary areas where taxpayers frequently make mistakes on their tax returns. ATO crypto data-matching program extended – The ATO has announced it will extend its current crypto asset data-matching program through to the 2025–2026 financial year. Navigating complexities[…]

Our latest eNewsletter outlines key announcements from the May 2024 Federal Budget, including the following topics: Personal Taxation Business Taxation Tax Compliance and Integrity Superannuation

Our latest eNewsletter includes information on the following topics: Reactivating old debts: new guidelines for government agencies – In response to the ATO’s recent actions on old tax debts, the Commonwealth Ombudsman/ACT Ombudsman and the Inspector-General of Taxation and Taxation Ombudsman have issued new guidelines to improve how Australians are notified about debts they owe[…]

Our latest eNewsletter includes information on the following topics: Revised stage 3 tax cuts now law – The new rates will apply from 1 July 2024, so it’s a good time to understand how these changes will affect you. Refresher on deductibility of self-education expenses – Generally, work-related self-education expenses are tax-deductible if they enhance skills and knowledge, or lead[…]

Our latest eNewsletter includes information on the following topics: Are you receiving personal services income? – PSI considerations generally apply for individuals who receive more than 50% of their ordinary or statutory income from a contract as a reward for their personal effort or skills. How much does negative gearing really cost? – Since the announced changes to the[…]

Our latest eNewsletter includes information on the following topics: Proposed changes to stage 3 tax cuts announced – New proposed tax rates have been flagged to come into place from 1 July 2024. ATO areas of focus on businesses for the coming year – The ATO has highlighted three focus areas: taking steps to address cyber security and increased protection of[…]

Our latest eNewsletter includes information on the following topics: ASIC’s new alert list offers guidance on suspicious investment “opportunities” – The latest list aims to help consumers identify whether entities they’re considering investing with could be fraudulent, running a scam or unlicensed. ATO pauses “debts on hold” awareness campaign – The ATO has apologised for any[…]

Our latest eNewsletter includes information on the following topics: Upcoming changes for pension and income support recipients – A permanent enhancement to the pensioner work bonus has been announced, along with a doubling of the employment income nil rate period to reduce barriers for income support recipients taking up work. Sharing economy reporting regime for platform operators[…]

Our latest eNewsletter includes information on the following topics: ASIC calls on lenders to support customers – ASIC’s recent open letter reminds lenders that they must have suitable arrangements in place to respond to requests for assistance from customers and work cooperatively to find sustainable solutions. Subscriptions included in digital adoption boost: ATO clarification – New and[…]

Our latest eNewsletter includes information on the following topics: ATO motor vehicle data matching program extended – For 2022–2023 and 2024–2025, the ATO will continue to collect information about vehicle transfers and new registrations where the purchase price or market value is $10,000 or more. Using the cents per kilometre method for claiming car expenses – This method is a simple[…]

Our latest eNewsletter includes information on the following topics: ATO motor vehicle data matching program extended – For 2022–2023 and 2024–2025, the ATO will continue to collect information about vehicle transfers and new registrations where the purchase price or market value is $10,000 or more. Using the cents per kilometre method for claiming car expenses – This method is a simple[…]

Our latest eNewsletter includes information on the following topics: Federal Budget update – Catch up on the personal and small business tax developments announced in the May 2023 Federal Budget. ATO target areas for tax time 2023 – The ATO will target loan interest expenses, working from home deductions, and possible capital gains tax where a main residence is also[…]

Our latest eNewsletter outlines key announcements from the May 2023 Federal Budget, including the following topics: Personal Taxation Business Taxation Tax Compliance and Integrity Superannuation

Our latest eNewsletter includes information on the following topics: Cheaper child care on the horizon – From 1 July 2023, the rate of child care subsidy that many Australian families are entitled to receive will increase. Have you checked for lost and unclaimed superannuation? – The ATO has recently reported there is now $16 billion in lost and unclaimed super, and[…]

Our latest eNewsletter includes information on the following topics: Working from home expenses: new fixed rate – From 1 July 2022, employees who work from home can no longer use the 80 cents per hour “shortcut” method for claiming their related expenses. Upcoming FBT-related changes – Employers that provide FBT car parking benefits to their employees should be aware that the[…]

Our latest eNewsletter includes information on the following topics: Non-deductible threshold removed for self education expenses – A recent change to the tax law means it will be simpler to claim a tax deduction for the costs of work-related self education. Tax debts and relationship breakdowns: a warning – A recent case sheds light on the Family Court[…]

Our latest eNewsletter includes information on the following topics: Looming changes for the “buy now, pay later” market – In a bid to protect consumers, the Federal Government has released a consultation paper about regulating “buy now, pay later” services. NSW first home buyers: choice of tax – The NSW government has introduced the First Home Buyer Choice[…]

Our latest eNewsletter outlines key announcements from the October 2020 Federal Budget, including the following topics: Personal Taxation Cost of Living Measures Business Taxation Tax Compliance and Integrity Superannuation Housing Measures

Our latest eNewsletter includes information on the following topics: Bonus deduction for employee training proposal – The government has proposed a temporary “skills and training boost” initiative giving small businesses access to a bonus 20% deduction on certain employee training. Crypto reforms: change in consultation approach – Treasury is aiming to identify how cryptocurrency assets and related services should[…]

Our latest eNewsletter includes information on the following topics: Beware of payment redirection scams – ASIC has warned small and micro businesses to be alert for payment redirection scams, which have caused some of the highest losses to businesses in 2021. TPAR due soon: is your business ready? – The taxable payments annual report for 2021–2022 is due to be[…]

Our latest eNewsletter includes information on the following topics: ATO reminder to small businesses this tax time – Areas to watch include deductions not related to business income, overclaiming of expenses, omission of business income and insufficient records. ATO warns against asset wash sales – Although there may be legitimate reasons for selling and then reacquiring the same[…]

Our latest eNewsletter includes information on the following topics: Tax time 2022: businesses get ready – As the end of another tax year approaches, the ATO is reminding businesses to consider their end-of-financial year options for deductions and concessions, and make sure their records are in order. ATO guidance update: debt relief and waivers – The ATO has recently[…]

Our latest eNewsletter includes information on the following topics: Employees vs contractors: more clarity coming – Recently, the High Court handed down a significant decision in a case involving the distinction between employees and contractors. Movement at the FBT station: COVID-19 tests, car parking – FBT is generally seen as a relatively slow-moving and quiet area of tax[…]

Our latest eNewsletter outlines key announcements from the October 2020 Federal Budget, including the following topics: Personal Taxation Cost of Living Measures Business Taxation Tax Compliance and Integrity Superannuation

Our latest eNewsletter includes information on the following topics: Support for flood-ravaged areas – Some immediate financial help is available for those affected by the recent devastating flooding in South East Queensland and parts of New South Wales, including the Disaster Recovery Payment and Disaster Recovery Allowance, and ATO support for flood-impacted small businesses. Temporary full expensing[…]

Our latest eNewsletter includes information on the following topics: Work-related COVID-19 tests may be deductible – The Federal Government is hoping for some good press with the announcement that it intends to legislate to make both PCR tests and RATs tax-deductible for individuals who buy them for a work-related purpose, and exempt from FBT for employers providing[…]

Our latest eNewsletter includes information on the following topics: COVID-19 vaccination rewards: tax implications – While offering rewards or incentives for being vaccinated can be an effective way to help employees and customers to stay safe and businesses to stay open, it’s important to consider that there may be some tax consequences involved for your business[…]

Our latest eNewsletter includes information on the following topics: ATO scrutinising gifts or loans from overseas – The ATO has recently issued an alert warning taxpayers against disguising undeclared foreign income as gifts or loans from related overseas entities, including family and friends. New data matching program: government payments – A new data matching program designed to identify[…]

Our latest eNewsletter includes information on the following topics: Federal COVID-19 support developments – The Prime Minister and Minister for Education and Youth recently announced new support for child care providers impacted by COVID-19 lockdowns. State and territory COVID-19 support developments – Expanded and additional support has been announced in most states and territories for a range of[…]

Our latest eNewsletter includes information on the following topics: Single Touch Payroll update – From 1 January 2022, most employers will be required to send additional information through STP as part of Phase 2 of the rollout. Tax time 2021: rental property pitfalls – The ATO is again closely monitoring tax deduction claims in relation to rental properties. New sharing economy reporting[…]

Our latest eNewsletter includes information on the following topics: ATO tax time support – The ATO has a range of year-end tax time options to support taxpayers who have been affected by the COVID-19 pandemic and recent natural disasters. Hardship priority processing of tax returns – If your business is experiencing financial difficulties due to the latest lockdowns[…]

Our latest eNewsletter includes information on the following topics: Temporary COVID Disaster Payment now available – A temporary payment is now available to assist workers living or working in a Commonwealth declared hotspot who can’t attend work and earn an income because of state-imposed health restrictions. Private health insurance rebates frozen – The income thresholds for the[…]

Our latest eNewsletter includes information on the following topics: Are you ready for Tax Time 2021 – COVID-19 has changed many people’s work situations, and the ATO expects their work-related expenses will reflect this during tax time in 2021. ATO data-matching targets rental property owners – The ATO has announced it will run a new data-matching program to collect[…]

Our latest eNewsletter includes information on the following topics: Independent resolution process for small businesses now permanent – Small businesses now have another pathway to resolve tax disputes, with the ATO making its independent review service a permanent option for eligible small businesses after a successful multi-year pilot. ATO focus in relation to JobKeeper – The ATO has[…]

Our latest eNewsletter includes information on the following topics: It’s time to consider FBT – If your business has provided any benefits to your employees, you may be liable for fringe benefits tax. FBT returns and payments are generally due to the ATO by 21 May. ATO reminder: lodge your TPAR – Taxable payments annual reports for the[…]

Our latest eNewsletter includes information on the following topics: Tax implications of having more than one job – If you’re working two or more jobs casually or have overlapping contract work, you need to be careful to avoid an unexpected end of financial year tax debt. Closely held payees: STP options for small employers – Small employers[…]

Our latest eNewsletter includes information on the following topics: ATO warning: watch out for tax avoidance schemes – Tax minimisation schemes that are outside the spirit of the law are referred to as tax avoidance, and could attract the ATO’s attention. COVID-19 Supplement extension to 31 March 2021 – The Federal Minister for Families and Social Services has now[…]

Our latest eNewsletter includes information on the following topics: Coronavirus Supplement extended (but reduced) – The Federal Government’s Coronavirus Supplement has been extended for a further three months until 31 March 2021, but will be cut to $150 per fortnight from 1 January 2021. Additional $250 Economic Support Payments on the way – Two additional Economic Support Payments of $250 each will soon be[…]

Our latest eNewsletter includes information on the following topics: Budget personal tax cuts and business concessions – Several tax announcements from the 2020 Federal Budget have now passed into law and the ATO has issued updated PAYG withholding schedules. Working from home “shortcut” deduction extended – In recognition that many employees and business owners are still required to work[…]

Our latest eNewsletter includes information on the following topics: COVID-19 and FBT: updated ATO advice – The ATO has updated its COVID-19 and fringe benefits tax advice, providing a useful outline of some issues that may arise. ATO updates on new JobKeeper arrangements – An array of new and updated information sheets address the changes to JobKeeper. Extended[…]

Our latest eNewsletter outlines key announcements from the October 2020 Federal Budget, including the following topics: Personal Taxation Business Taxation Social Security Superannuation

Our latest eNewsletter includes information on the following topics: JobKeeper changes: turnover test and employment start date – Prime Minister Scott Morrison announced further changes to JobKeeper on 7 August 2020 regarding the turnover test and employment start date for eligibility. JobKeeper reference date now 1 July 2020 – For JobKeeper fortnights beginning on or after 3 August 2020, the reference date for determining[…]

Our latest eNewsletter includes information on the following topics: Federal Government releases economic update – On 23 July 2020, Federal Treasurer Josh Frydenberg released the Economic and Fiscal Update July 2020. Instant asset write-off further extended – If you’ve purchased assets for your business, remember that you may be eligible to claim an immediate deduction under the instant asset write-off[…]

Our latest eNewsletter includes information on the following topics: Tax time 2020 is here – With the great disruptors of the Australian bushfires and the global coronavirus (COVID-19) pandemic, and the associated government economic stimulus measures, there are some key tax-related matters for everyone to be aware of this year. Expanded instant asset write-off for businesses – If you[…]

Our latest eNewsletter includes information on the following topics: Treasury revises down estimated JobKeeper cost by $60 billion – The ATO and Treasury have released a joint statement advising that the previous estimate of the number of employers who would access the JobKeeper program was significantly overstated. Snapshot of Federal COVID-19 pandemic measures – a wide array of Federal[…]

Our latest eNewsletter includes information on the following topics: Federal Budget night shifts to 6 October 2020: The Australian Government recently announced that this year’s Federal Budget will not be handed down until 6 October 2020. Coronavirus cash flow boost payments explained: As of the second round of economic stimulus in response to the COVID-19 pandemic, the government has[…]

Our latest eNewsletter includes information on the following topics: COVID-19: Australia’s governments and the ATO have made a huge number of announcements in recent weeks about measures to support individuals and businesses during the novel coronavirus pandemic. This issue summarises the main ATO administrative changes, concessions and payments, and ways to find more information Working[…]

Our latest eNewsletter includes information on the following topics: Super guarantee loopholes closed: Until recently, loopholes in the law meant that your employer could count your salary-sacrificed amounts towards their super guarantee contribution amounts – essentially working against your intention to boost your super. ATO tackling international tax evasion: A recent coordinated effort by the Joint Chiefs[…]

Our latest eNewsletter includes information on the following topics: ATO backs down from controversial time limit ruling: The ATO has recently withdrawn Draft Miscellaneous Taxation Ruling MT 2018/D1, on the time limit for claiming input tax credits and fuel tax credits. ATO extends bushfire assistance: lodgments deferred: The ATO has announced an extension of the tax[…]