ATO Targets Dodgy Tax Deductions

ATO Targets Dodgy Tax Deductions With over eight million Australians claiming work-related expenses each year, Assistant Commissioner Graham Whyte from the ATO is reminding people to make sure they get their deductions right this tax time. “Australians claim over $21 billion in work-related expenses each year, and we want to support taxpayers to claim what [...]

September 27th, 2016|Tax|Comments Off on ATO Targets Dodgy Tax Deductions

Clarity On Proposed Backpacker Tax Changes

Clarity On Proposed Backpacker Tax Changes The Australian Tax Office has moved to clarify backpacker tax arrangements, confirming that controversial tax increases would not begin from July 1st. Recently, the ATO had been directing concerned farmers to its website, which stated that a 32.5 per cent tax rate for backpackers was due to take effect from July [...]

September 27th, 2016|Tax|Comments Off on Clarity On Proposed Backpacker Tax Changes

Warning to clients doing their own BAS

Warning to clients doing their own BAS Hidden risk in amending BAS We recently came across this article from Worrells Solvency & Forensic Accountants and we wanted to share it with you because it has some serious implications. “We should all be aware of the current provisions relating to Director Penalty Notices, regarding reported and un-reported [...]

April 18th, 2016|Business Tips, Tax|Comments Off on Warning to clients doing their own BAS

Is Superannuation sacred?

Is Superannuation sacred? Apparently not, the ATO can take it! We came a cross a recent article regarding topic of whether the ATO could get their hands on your superannuation in the event you owed them money. Here’s what we uncovered with the help of Jason Bettles, Partner Worrells Gold Coast and Ballina. “The ATO is [...]

April 18th, 2016|Superannuation, Tax|Comments Off on Is Superannuation sacred?

Transition to Retirement – Tax Treatment Of Your Super Could Change

Don’t Panic – Tax Treatment Of Your Super Could Change – Transition to Retirement What is it? People who have reached their preservation age and are still working are able to access their superannuation and start a transition to retirement (TTR) strategy. Your preservation age is the earliest time at which you can start to [...]

April 18th, 2016|Superannuation, Tax|Comments Off on Transition to Retirement – Tax Treatment Of Your Super Could Change

SuperStream deadline: Less than 100 days to go!

SuperStream deadline: Less than 100 days to go! If you are one of the 40% of small businesses that are yet to organise yourself for SuperStream, the ATO has reminded us that there are less than 100 days to do so. With the June 30 deadline rapidly approaching, the ATO is encouraging small businesses to [...]

April 18th, 2016|Business Services, Business Tips, Tax|Comments Off on SuperStream deadline: Less than 100 days to go!

Client Alert: Notices of assessment and other ATO correspondence for clients with a myGov account

Client Alert: Notices of assessment and other ATO correspondence for clients with a myGov account If you have created a myGov account and linked to myTax, the ATO advises that you will receive your notice of assessment and other important ATO mail direct to your myGov Inbox. As your accountant and tax agent, we ensure [...]

April 18th, 2016|Tax|Comments Off on Client Alert: Notices of assessment and other ATO correspondence for clients with a myGov account