Another warning from the Tax office
The Tax Office says it will be scrutinizing every tax return lodged this year as it continues its crackdown on illegitimate claims – “The best way to ensure a smooth audit process is engage with us early and to keep accurate records.”
Low and Middle Income Tax Offset Now Law – from the ATO
Tax Offsets for low to middle income earners. Lodge your tax return early, says the tax office.
ATO flashes warning over $7.2bn car expenses claims – article in the accountantsdaily newsletter
Over $7.2 billion in work-related car expenses claimed last year have placed the popular deduction firmly in the headlights of the ATO this tax time.
What tax deductions are there if I work from home?
If you work from home you can claim deductions for all sorts of expenses!
What you can claim depends on whether you are an employee working at home or if you are running your business from home.
Start now to maximize tax savings for EOFY
Do it now to get the best return. Maximize tax deductions - keep a diary! There are several personal or business tax deductions that require you to substantiate your deductions. Leaving this until May/June will not give you the best outcome. Motor Vehicle There are...
Undeclared cash income in ATO sights
Undeclared cash income in ATO sightsAdrian FloresSeptember 20, 2018The Tax Office has put cash income unreported by taxpayers on its agenda in a continuation of its compliance crackdown on work-related expenses.The ATO said it is on a mission to recover an...
Superannuation Changes and Updates – Reduced concessional cap
Reduced concessional cap What is the new concessional contributions cap and when does it take effect? From 1 July 2017, the new annual concessional contributions cap is $25,000 for all individuals regardless of age. This is the total super contribution you can make in...
Motor vehicle expenses
When you can claim and can't claim for car expenses When you can claim You can claim a deduction for work-related car expenses if you use your own car in the course of performing your job as an employee, for example, to: carry bulky tools or equipment...
From the ATO – beware scammers +
From the Tax OfficeBe on the look out for scammers this tax timeThis tax time you may receive an SMS or email from us or notice our presence on social media sites such as Facebook, Twitter and YouTube.Our presence in this space is legitimate and can be...