Tax
CategoryWhat is a CGT event?
Capital Gains Tax (CGT) events occur when an individual or company makes a capital gain or capital loss by selling or disposing of an asse..
Reestablishing lost or damaged records
Taxpayers are responsible for safely storing a written backup copy of their tax record in case the original electronic form becomes inacce..
Non-compliant payments to workers no longer tax deductible
Businesses can no longer claim deductions for payments to workers if they have not met their pay as you go (PAYG) withholding obligations…
FBT car parking threshold changes
The ATO has released the Taxation Determination 2019/9, which outlines changes to the fringe benefits tax (FBT) car parking threshold.
Th..
New ATO toolkit helps small businesses get expenses right
The ATO has developed a new toolkit that helps small business owners to understand their entitlements and avoid mistakes in their tax retu..
Be wary of unregistered tax preparers
The Australian Taxation Office (ATO) is warning taxpayers to keep an eye out for people posing as tax agents who are not registered with t..
New tax toolkit for rental property owners
The ATO has developed a new rental property owners toolkit for property investors to ensure that mistakes are avoided in their tax returns..
What is replacing AUSKey?
The ATO is developing new online services systems to replace AUSKey, which is due to retire in March 2020. Taking the place of AUSKey will..
Maximising your tax return as a home-based business
Small business owners may be able to claim deductions for the costs of using your home as a principal place of business when filing your 2..
Tax bracket changes passed
In the 2019-20 Federal Budget, the Government announced their plans to change and build on the Personal Income Tax Plan. These changes aff..