Source:- www.ato.gov.au Nurses, midwives and direct carers – claiming work-related expenses If you are employed in the nursing industry, you may be entitled to claim a tax deduction for certain work-related expenses, including: car travel uniform, occupation specific or protective clothing, laundry and dry-cleaning self-education other – such as phone, tools and equipment and overtime […]
Earthmoving plant operators– claiming work-related expenses
Earthmoving plant operators– claiming work-related expenses Some standard tax deductions for your industry are:- motor vehicle expenses, including car lease payments travel expenses and associated allowances uniform, occupation-specific or protective clothing, including laundry and dry-cleaning expenses other expenses, such as meals, phone, mobile and computer running costs. Please use this guide to help you, as a building […]
Standard Tax Deductions- Personal Tax
Source:- www.ato.gov.au Standard Tax Deductions- Personal Tax According to the ATO you need to have made the purchase in the course of earning your assessable (taxable) income and it must not be a private, domestic or capital expense. If the expense was both work-related and private or domestic, you can only claim a deduction for the […]
June 2015 ATO Lodgement Dates
June 2015  ATO Lodgement Dates June 2015  ATO Lodgement Dates:- Date Obligation 5 June Tax return lodgment, including companies and super funds where the tax return is not required earlier and both of the following criteria are met: non-taxable or a credit assessment as at latest year lodged non–taxable or receiving a credit assessment in the […]
2015 Tax Rates
2015 Tax Rates Anyone who earns an income needs to pay tax, so it’s important to know exactly how much tax you can expect to pay. The Australian Tax Office produce a range of tax tables to help you work out how much to withhold from payments you make to your employees or other payees. * […]
Starting and running your small business
Starting and running your small business Small business assist provides easy access to information for both new and established businesses on a range of topics. You simply type in a question and it will provide tailored information from a range of websites. The information is displayed in an easy-to-read format that allows you to get […]
Ways to trigger an ATO audit
Ways to trigger an ATO audit The ATO make it clear in their compliance program for 2013-14 that they will be active in their review and audit practices.  They have set their benchmark  to data match over 640 million transactions to tax returns this year. What triggers an ATO audit is shown by your tax compliance – in […]
Tax assistance for people affected by severe weather
Tax assistance for people affected by severe weather Have you been affected by the recent severe weather throughout NSW? The ATO understands that dealing with your tax affairs is probably the last thing on your mind. Your tax obligations can be put to one side until you have dealt with the immediate effects of the […]
Tips for getting your BAS right
Tips for getting your BAS right Some businesses make common mistakes, others don’t provide current information and others don’t take advantage of viable time management options. Here is five tips to help you save time and get things correct:- Lodge all your outstanding activity statements Fill in the contact telephone number and name of the […]
Common Mistakes businesses make on their BAS
Common Mistakes businesses make on their BAS To help you get your BAS right the first time, the ATO have identified common GST mistakes made by small businesses. By avoiding common mistakes, you’ll save time and money and help ensure your refund is processed quickly. Here’s a list of things to look for before you […]
Property developers
Property developers A recent case before the Administrative Appeals Tribunal (AAT) involved a taxpayer who tried to argue that profit from the sale of two properties should be treated as a capital gain (meaning they would get the 50% CGT discount), even though they had originally acquired the land for the purpose of developing it […]
ATO’s audit targets
ATO’s audit targets The ATO has set up a new page on its website called “Building confidence”, which talks about its current compliance activities, and the amounts of tax and penalties it has collected in 2014 from its various initiatives. Some of the areas that the ATO has stated it will be focusing on are: […]
ATO super crackdown – child care, building, cleaning, pubs
ATO super crackdown – child care, building, cleaning, pubs The ATO has identified employers in the following industries as having a higher risk of not meeting their super obligations: *    child care services; *    building and industrial cleaning; and *    pubs, bars and taverns. The ATO is currently running […]
Inappropriate loans from super funds
Inappropriate loans from super funds The ATO has issued a guide for trustees of self-managed superannuation funds (SMSFs) that asks: “Has someone asked you to invest your SMSF funds into a trust, company or investment product, and then offered to lend some or all of that money back to you, your company or any entity […]
Contractor payments data matching program
Contractor payments data matching program The ATO has announced that it will continue to acquire details of entities that receive contractor payments from other businesses for the 2013/14, 2014/15 and 2015/16 financial years. The data that will be obtained includes: * Â Â Â Australian Business Number (ABN) of the payer business; * Â Â Â ABN […]