New Tax Laws New Tax Laws make their way through the Senate Editor: Tax and Superannuation Laws Amendment (2015 Measures No. 6) Bill 2015 (‘the Bill’) has been passed by the Senate and should receive Royal Assent shortly. This Bill makes amendments to the taxation law to: Change the CGT treatment of the sale and […]
What Can I Claim on My Tax Return: Car Expenses
By Arcturus Mengsk on December 17, 2023 in Australian Tax Office Updates, Hints & Tips, Interesting Articles
If you use your own car for work purposes, you can claim a deduction using the cents per kilometre method or logbook method. If you use someone else’s car for work purposes, you can only claim for direct costs you pay for – such as fuel. Take a look: Contact us at @ Newcastle […]
Federal Budget 2020: Our Recap
On Tuesday night Treasurer Josh Frydenberg announced the 2020 Australian Federal Budget which included tax cuts, wage subsidies and a big focus on rebuilding the economy and creating jobs. There is new funding available to encourage employers to hire new apprentices and young people who are currently on job seeker as well as tax cuts […]
Accounting firm in Brisbane
Accountant In Brisbane Bottrell Chartered Accountants is a business that has its sole purpose as serving as an accounting firm to its client. BCA helps businesses and their owners stay financially focused, ensure that they don’t fall behind on taxes and helps businesses grow to meet and exceed when possible their set goals or expectations. […]
Tradies Tax Deductions
By Arcturus Mengsk on June 1, 2018 in Australian Tax Office Updates, Hints & Tips, Interesting Articles
You can claim a deduction for expenses incurred as an employee tradie if: you spent the money yourself and were not reimbursed it was directly related to earning your income you have a record to prove it. Tips: Include all your income on your tax return – including cash! Use the ATO app’s myDeductions tool […]
Working From Home? Here’s what you can claim on tax
By Arcturus Mengsk on June 1, 2018 in Australian Tax Office Updates, Hints & Tips, Interesting Articles
If you’re an employee who regularly works from home, you may be able to claim a deduction for expenses relating to that work. The Bottrell team are a group who specialise in accounting and tax for both individuals and businesses, as well as super funds. We support our clients and form strategies […]
Understanding Your Car Related Expenses
By Arcturus Mengsk on May 30, 2018 in Australian Tax Office Updates, Hints & Tips, Interesting Articles
[vc_row][vc_column][vc_column_text]Understanding Car Related Expenses If you use your own car for work purposes, you can claim a deduction using the cents per kilometre method or logbook method. If you use someone else’s car for work purposes, you can only claim for direct costs you pay for – such as fuel. For further information […]
Miners Tax Deductions
By Arcturus Mengsk on May 30, 2018 in Australian Tax Office Updates, Hints & Tips, Interesting Articles
[vc_row][vc_column][vc_column_text] Are you a Miner and pay a lot of tax? Do you know what your entitlements are when it comes to deductions? Read on to find out what you might be eligible to claim. To claim a deduction for work related expenses; you must have spent the money yourself and weren’t reimbursed it must […]
2018/19 Federal Budget
[vc_row][vc_column][vc_column_text] 2018/19 Federal Budget Personal income tax changes 1.1 Personal income tax plan The Government will introduce a seven-year, three-step, Personal Income Tax Plan, as follows: Step 1: Targeted tax relief to low and middle income earners The Government will introduce the Low and Middle Income Tax Offset, a non-refundable tax offset of up to […]
Do you need to use Single Touch Payroll?
By Arcturus Mengsk on March 29, 2018 in Australian Tax Office Updates, Hints & Tips, Interesting Articles, Uncategorized
[vc_row][vc_column][vc_column_text]To work out if you have to report through Single Touch Payroll from 1 July 2018, all you need to do is count the number of employees on your payroll on 1 April. If you have 20 or more employees, you’ll need to get ready for STP this year. You can do the headcount after 1 April, […]
ANAO report: Unscheduled taxation system outages
By Arcturus Mengsk on March 16, 2018 in Australian Tax Office Updates, Interesting Articles, NTAA, Uncategorized
[vc_row][vc_column][vc_column_text]The Australia National Audit Office (ANAO) Has released its report into whether the ATO effectively responded to the recent unscheduled information technology (IT) system outages (the most significant of which occurred in December 2016 and February 2017). The ANAO notes that online services have become the primary means of transacting with the ATO, so it […]
IGT releases report on PAYG installments review
By Arcturus Mengsk on March 16, 2018 in Australian Tax Office Updates, Interesting Articles, NTAA, Uncategorized
[vc_row][vc_column][vc_column_text]The inspector-General of Taxation’s (IGT’s) report into aspects of the Pay As You Go (PAYG) Instalments system has been publicly released, which is the first IGT review undertaken in direct response to insights drawn from the IGT’s complaint handling service. It also had stakeholder support during consultation on the IGT 2017 work program and attracted […]
Are You Using Your Dual-Cab for Private Use?
[vc_row][vc_column][vc_column_text] The ATO have cracked down on Dual-Cab Utes being used for personal use by making changes to the Fridge Benefit Tax exemptions that are available. Previously, if you own a vehicle that is not principally designed to carry passengers there were Fringe Benefit Tax exemptions available. These are aimed at single cab utes and […]
Taxpayer Loses Access to the Small Business Concessions
[vc_row][vc_column][vc_column_text] The Federal Court has overturned the decision of the AAT that the market value of shares subject to a CGT event was less than the proceeds received. Consequently, the taxpayer did not satisfy the $6 million Maximum Net Asset Value test (‘MNAV test’) and could not access the CGT small business concessions (‘SBCs’). Facts […]
ATO Warning Regarding Small Business Record-Keeping
[vc_row][vc_column][vc_column_text] According to the ATO, of all the things that can cause small businesses to fold, “high on that list is poor record keeping”. More than half of the businesses they visited in their Protecting honest businesses they visited in their record keeping. Issues they found include businesses: Estimating their sales and income; Using […]