Tax
CategoryIncome tax gap results
The ATO has released its latest findings on the tax gap for Australian individuals. The estimated gap in 2014-15 is approximately $8.7 bil..
Avoid scams this tax time
The Australian Tax Office (ATO) is reminding individuals to remain vigilant against any scams that may pop up this year around tax time.
W..
Penalty relief for taxpayers
From 1 July 2018, the Tax Office is advising Australians that if they find an error in their tax return or activity statement they will no..
Avoid these five common Tax Time mistakes
Tax Time is now upon us, with the ATO Assistant Commissioner announcing the top five mistakes commonly made when Australians complete thei..
Personal Income Tax Plan passed
The Personal Income Tax Plan announced as part of this year’s Federal Budget has been passed by Parliament.
The plan introduces:
– a new l..
Claiming clothing this tax time?
The Australian Tax Office (ATO) is cracking down on claims for work-related clothing and laundry expenses this tax time.
Last year total c..
Importing goods worth $1,000 or less?
Overseas businesses that meet the GST registration threshold (A$75,000) will be required to charge GST on goods purchased from the 1 July ..
Preparing for tax time
With the end of the financial year fast approaching, preparing ahead will help to take off the pressure of running your business and organ..
Targeted amendments to Division 7A
The Government is widening the scope of Division 7A to include unpaid present entitlements from 1 July 2019.
This will apply where a relat..
GST at settlement
As of 1 July 2018, purchasers of new residential premises or potential land are required to withhold an amount from the contract price and..