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News

Client Alert December / January

Tuesday, December 11, 2018

Work-related tax deductions down for 2018 The ATO has reported a decline in the overall value of work-related deductions for tax time 2018. In his opening statement to Senate Estimates on 24 October 2018, Commissioner Chris Jordan said taxpayers appear to be taking extra care when claiming work-related expenses in their 2017–2018 income tax returns. […]

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Client Alert October/ November 2018

Friday, October 5, 2018

Claiming work-related expenses: ATO guides and toolkits This year, the ATO has launched its biggest ever education campaign to help taxpayers get their tax returns right. The ATO says the campaign, which is running throughout tax time, includes direct contact with over three million selected taxpayers, as well as specialised guides and toolkits for taxpayers, […]

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Beware & Take Care

Thursday, September 27, 2018

Tax agent impersonators conning victims to pay fake debts By Emma Koehn (The AGE newspaper 27th September 2018) Tax agents are being forced to fight fraudsters who are impersonating  tax professionals to con victims into paying fake debts. The Australian Taxation Office advised tax agents this week to inform their clients that scammers may be trying […]

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Client Alert August-September

Monday, September 10, 2018

Government launches new service to simplify business registrations The government has officially launched a new stand-alone Business Registration Service, providing a simpler and clearer way to register a business. The service is available at www.business.gov.au. The service can be used for things such as applying for an Australian Business Number (ABN) or goods and services […]

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Client Alert June/July 2018

Tuesday, July 3, 2018

Tax planning With the end of the 2018 income tax year rapidly approaching, this issue draws attention to year-end tax planning strategies and compliance matters that you need to consider to ensure good tax health. It focuses on the most important issues for small to medium businesses and individuals to consider. Tip: This is general […]

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Client Alert April – May 2018

Wednesday, May 9, 2018

ATO closely examines work-related car expenses The ATO is concerned about taxpayers making mistakes or deliberately lodging false claims for work-related car expenses, and has announced it will be closely examining claims for these expenses in 2018 tax returns. Last year, around 3.75 million people made a work-related car expense claim, totalling about $8.8 billion. […]

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BUDGET 2018

Wednesday, May 9, 2018

 PERSONAL TAXATION Personal tax rates: staged seven-year reform plan starting from 2018–2019 In the 2018–2019 Budget, the Government announced staged tax relief for low and middle income earners. The Government is proposing a major seven-year, three-step plan to reform personal income tax. Step 1 will see a new, non-refundable low and middle income tax offset from […]

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Client Alert February/March 2018

Thursday, March 15, 2018

Bill to implement housing affordability CGT changes As part of the 2017–2018 Budget, the Federal Government announced a range of reforms intended to reduce pressure on housing affordability. Legislation has now been introduced into Parliament that proposes to: remove the entitlement to the capital gains tax (CGT) main residence exemption for foreign residents; and modify […]

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Client Alert December 2017

Thursday, November 16, 2017

Consultation paper: combating phoenix activities The Federal Government has released a consultation paper proposing company and tax law reforms to combat phoenix activities. Phoenix activities involve stripping assets from a company that’s in debt and transferring them to another company to avoid paying the first company’s liabilities – that is, the new company “rises from […]

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Client Alert October/November 2017

Wednesday, September 20, 2017

Bill to increase Medicare levy The Medicare Levy Amendment (National Disability Insurance Scheme Funding) Bill 2017 has been introduced to implement the Government’s 2017–2018 Budget announcement to increase the Medicare levy by 0.5% to 2.5% from 1 July 2019 in order to help finance the National Disability Insurance Scheme (NDIS). Nine other Bills have been introduced to […]

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