How to manage your business tax debts with the ATO Facing a tax bill is a common challenge for many

Impact of the ATO’s medium and emerging program for private groups If your small or medium business is on a

FBT and tax implications of Xmas parties and gifts As the end of year season approaches, it’s a great time

Federal Court and AAT tax decisions published in September 2024 Select list of tax decisions published by the Federal Court

Salary sacrificing into super Salary sacrificing to make additional contributions to your superannuation fund can help grow your superannuation balance

Tax offsets you may be able to claim A tax offset reduces the tax you pay on your taxable income.

ATO examining luxury assets The ATO has announced or extended a number of data matching programs recently, including the lifestyle

Tax implications of renting out your holiday home If you own a holiday home you might rent it out at

Tax relief for restructuring your small business With the latest statistics showing a significant rise in liquidations and with the

Resources to help small business classify food and health products for GST purposes Alongside the ATO’s GST public advice and

Income tax consequences of sharing your home Homeowners can share their homes in a range of ways – you might

Published tax cases August 2024 Federal Court: Tax Practitioners Board v Van Dyke [2024] FCA 899 14 August 2024 | Abraham

Unpaid super a focus for ATO debt collection The ATO has revealed its focus areas for the current financial year,

Subdividing the family home to unlock value Many retirees find themselves cash-poor but asset-rich. For those living on larger properties,

Published tax cases July 2024 The select list of decisions published in July is below, with headnotes reproduced and links

What method do you use to claim business motor vehicle expenses? If your business owns or leases a motor vehicle

Give your super a check-up with the start of the new financial year The new financial year has begun, and

Taxation incentives for small business that can reduce tax With the passing of the 2023-24 financial year, small business owners

Published tax cases June 2024 It was a busy end to the financial year in the courts and AAT with

Important payroll and superannuation reminders for employers As the new financial year begins, employers need to keep an eye on

Review exposure to Division 7A and take action With the end of the financial year imminent, private companies should be

Inflated rental property claims in focus for tax time 2024 The ATO has flagged inflated rental property claims as one

Tax time 2024: reminders for small business As tax time 2024 approaches, the ATO has released some important reminders for

Tax time 2024 – ATO focus areas As the ATO gears up for tax time 2024, it has flagged three

ATO crypto assets data-matching program Hot on the heels of reports that a growing number of SMSFs are sustaining significant

Student loan debts to increase from 1 June 2024 due to indexation The HECS-HELP loan program is part of the

Difficulties with SMSFs investing in crypto assets The digital currency landscape continues to be treacherous terrain for Self-Managed Superannuation Fund

Changes to trust reporting Changes to simplify reporting for trustees and beneficiaries are commencing from 1 July 2024 as part

Fast track finalisation of less complex estate tax affairs The ATO has recently released an updated guideline (PCG 2018/4) that

Fake invoice schemes targeted by ATO The Serious Financial Crime Taskforce (SFCT) led by the ATO is warning businesses against

Inspector General of Taxation and Taxation Ombudsman issues guidelines re notification of debts owing to government In response to criticism

Proposed changes to the annual super fund performance test The annual superannuation performance test was introduced in 2021 by the

How the ATO uses small business benchmarks Recently, the ATO updated its small business benchmarks to include the 2021-22 income

Government to pay super on paid parental leave The government has announced that from 1 July 2025, it will commence

ATO concerned about compliance with Division 7A Division 7A of the Income Tax Assessment Act 1936 was introduced as a

ATO matching rental bond data with landlords tax returns Investment property owners beware! The ATO has signalled that its rental

Alternatives to employee declarations for FBT Employers that provide certain fringe benefits to their employees can now use appropriate alternative

Deductibility of self-education expenses The ATO recently released a final taxation ruling (TR 2024/3) which consolidates and updates its previous

EV home charging rates for FBT purposes Since the introduction of EV incentives by various state governments to encourage the

Tax implications of receiving personal services income Personal Services Income (PSI) generally only applies to individuals that receive more than

Foreign investors to pay increased fees to purchase established property In response to various media commentary and public sentiment that

ATO focusing on illegal early release of superannuation As a new calendar year commences, the ATO’s priorities in the SMSF

Enhancements to TPB sanctions regime open for consultation In response to the tax adviser misconduct saga that unfolded during 2023,

Proposed changes to stage 3 tax cuts The talk about the stage 3 tax cuts has reached fever pitch in

Draft ATO determination on deductibility of financial advice fees Late last year, the ATO released a draft taxation determination (TD

High Court decisions re employee v contractor spark ATO ruling Following the landmark High Court decisions in Construction, Forestry, Maritime,

Deductions denied for holiday homes not genuinely available for rent As the Christmas holiday period approaches, many individuals may be

ATO data-matching: directors and officeholders The ATO has announced a data-matching program which will acquire officeholder data from ASIC, the

ATO GST compliance focus areas At a recent conference, the ATO outlined its key areas of focus for GST compliance.

When can you get an extension of time to lodge your tax return? Tax time 2023 has now officially ended,

Regulation of crypto exchanges on the horizon As foreshadowed by the government and supported by many consumer advocates, the government

Enhancement to the Commissioner’s general powers of administration The Inspector-General of Taxation and Taxation Ombudsman (IGTO) recently released a report

ATO extends visa data matching program for three years The ATO has advised that its visa data matching program has

Consultation paper on proposed mechanisms for payday super Unpaid superannuation is equivalent to wage theft and is detrimental to the

Sharing economy reporting regime started The Sharing Economy Report Regime (SERR) has now commenced for the 2023-24 income year. Only

Tax on unrealised super fund earnings In a bid to improve the fiscal sustainability of the superannuation system, one of

Clarification on deductions related to holding vacant land Deductions for losses and outgoings that relate to holding vacant land on

Reform of promoter penalties, information sharing & TPB As a part of its response to the recent scandal involving conflict

ATO crackdown on non lodgment of Taxable Payments Annual Report The ATO has reminded relevant taxpayers to lodge their Taxable

Planned changes to regulation of tax advisers The government has announced major reforms to the tax adviser regulatory framework in