11 Deductions You Probably Can’t Claim
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New $7.30 ‘broadband tax’ every month
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Do Facebook Likes Determine Success?
Do Facebook Likes Determine Success? Do Facebook Likes Determine Success? Some equations are nice and simple. Milk + milo = milo slushie Hard work = sweat and tears One equation that just doesn’t add up is: Facebook likes = business success Why oh why you say after all those hours have been poured into building your […]
Cancelling SMSF registrations
Cancelling SMSF registrations Cancelling SMSF registrations The ATO is contacting trustees of newly registered SMSFs that have not lodged an annual return and where they have no records of them holding assets. The ATO is advising tax practitioners that, if their clients receive a letter, the practitioner should advise them that the ATO will cancel […]
ATO to review MP allowances ruling
ATO to review MP allowances ruling ATO to review MP allowances ruling With a number of media reports circulating in relation to travel allowances and work-related expenses, the ATO is urging all taxpayers to understand their obligations and check their claims. Tax Commissioner Chris Jordan said there were no special rules for Members of Parliament: […]
And now, direct from the ATO
And now, direct from the ATO And now, direct from the ATO Editor: The following are provided as excerpts from reminders to practitioners which have been received from the ATO during the past month. Setting up email notifications – portal mail The ATO recommends that practitioners set up an ‘email notification’ for their practice inbox […]
New Simpler BAS on the way
New Simpler BAS on the way New Simpler BAS on the way The ATO has been working with small businesses, tax professionals, industry associations and software providers on ways to deliver a simpler business activity statement (BAS) to make GST record keeping easier and less costly. To achieve this, several GST labels will be removed […]
ATO’s focus on trust property developers
ATO’s continuing focus on trust property developers In recent years, the ATO has focused on trusts developing and selling properties as part of their normal business. When these developed properties are sold, some trusts incorrectly claim a 50% CGT discount. Editor: See also TA 2014/1 – Trusts mischaracterising property development receipts as capital gains. As […]
ATO warns about iTunes scammers
ATO warns about iTunes scammers ATO warns about iTunes scammers The ATO is reminding the public to be alert to scammers impersonating the ATO demanding iTunes gift cards as a form of tax debt payment – this is part of new tactic being used by fraudsters. Of the 8692 phone scam reports the ATO received […]