The original deadline of 1-7-2019 has been extended. Read more about what every small business needs to do by then.
Over $7.2 billion in work-related car expenses claimed last year have placed the popular deduction firmly in the headlights of the ATO this tax time.
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The Tax Office has confirmed that the majority of “tip-offs” it receives about possible tax avoidance are related to business, amid concerns competitors may play dirty by “dobbing in” innocent businesses.
Again, the answer to a tax question is “it all depends”.
Tax agents have been urged to apply “an extra bit of thought and extra care” into handling clients’ claims this tax time as ATO scrutiny mounts.
Home-owners should consider the wider taxation implications of renting the family home before taking a short-term benefit.
Printing and completing these checklists makes it more efficient for your tax agent to complete your tax returns. Doing so also helps maximise any refunds you receive or payments you have to make.
With an increasing number of SMSF clients looking to switch loans following the exodus of the major banks from SMSF lending, a law firm has highlighted some of the considerations and important steps with documentation in this process.
In a low-interest, lower-return, more-volatile investment environment, investors have an even greater incentive to keep wealth-damaging behavioural traits or biases under control.