ATO has reminded companies that the proposed changes affecting eligibility for the lower company tax rate have not yet passed. This means that the lower 27.5% tax rate continues to apply to base rate entities defined by current law. In the tax return, base rate entities must denote that they are such at item 3 […]

ATO will acquire the details of individuals in receipt of paid parental leave payments and Medicare entitlement statements from the Department of Human Services for the 2017-18, 2018-19 and 2019-20 financial years for a data-matching program. The data items expected to be obtained for the parental leave scheme include information on the employer, recipient and […]

Beware of work-related clothing and laundry expense claims this tax time, the ATO is cracking down on individuals making unsubstantiated and exaggerated claims. It has reminded taxpayers that only uniform, protective or occupation-specific clothing that you are required to wear to earn your income can be claimed as work-related clothing. In addition, laundry expenses can […]

The small business superannuation clearing house is a free and convenient service that lets small businesses make employee superannuation contributions in one payment. The service was recently migrated to the ATO’s Business Portal. Users can now access numerous ATO tax and superannuation services using one login, making it easier to comply with superannuation obligations. It […]

In this fast-paced world, the ATO is finally catching up with the times by using computer assisted verification techniques to conduct audits, a process they are calling e-Audits. The process for selecting taxpayers for an e-Audit is the same as a normal audit. Although because the ATO can do these types of audits cheaper and […]

Do you rent out a part of your home, or a holiday home, on Airbnb, Stayz or another sharing site? Perhaps you see this as a way of making a little extra income to help the household budget or to save for that holiday. But did you know that when it comes time to sell […]