News

Small business clients need to be ready for STP by 30 September

The original deadline of 1-7-2019 has been extended.  Read more about what every small business needs to do by then.

ATO flashes warning over $7.2bn car expenses claims

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.

Vital statistics for our great nation.

            One great source of data about Australia. Become better acquainted with the country we love. An up-to-date snapshot of Australia's vital statistics.   Please click on the following link to see all this interesting information. The areas covered are: Overview Markets GDP Labour Prices Money Trade Government Business Consumer Housing […]

3 out of 4 tax dob-ins are about business

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.

Tax on compensation received for inappropriate advice

Again, the answer to a tax question is “it all depends”.

‘Extra care’ crucial in avoiding ATO spotlight this tax time

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.

Alert – Online Share Accommodation

Home-owners should consider the wider taxation implications of renting the family home before taking a short-term benefit.

2019: Tax Time Checklists – Individuals; Company; Trust; Partnership; and Super Funds

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.

Critical documentation steps flagged with switching SMSF loans

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.

Good investment habits versus damaging biases

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.

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