Housing Affordability Tax Measures Recently, legislation has been introduced to Parliament for a number of housing affordability tax measures. One measure is the First Home Super Saver Scheme (FHSSS) which will encourage first homebuyers to ‘build a deposit inside their [...]
Is A Contractor Really An Employee? There are so many myths about when is a contractor really an employee? Not understanding the differences could leave you in a lot of trouble with the ATO. Here's a short video explaining more. [...]
Tax time is prime time for scams Yet again, the ATO is warning tax payers against fraudsters attempting to scam them by posing as ATO representatives. In 2015 almost 87,000 phone and email scams were reported to the ATO, an [...]
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 [...]
Will the Tax Office Catch you in Its Snare? Our friends at the Tax Office are getting smarter as they strive to increase the tax take for a Government battling to reduce its deficits. Now, let’s be clear; we want [...]
Essential Tasks at End of Financial Year (EOFY) End of the financial year is an important and busy time for small business owners, completing bookkeeping, tax returns and begin planning for the new financial year. Putting the hard work in [...]
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 [...]
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 [...]
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 [...]
Beware clients doing their own BAS Hidden risk in amending BAS We recently came across this article from our colleagues at Worrells Solvency & Forensic Accountants and we wanted to share it with you because it has some serious implications. [...]
