Crackdown on “other” work related expenses, and inquiry into tax deductibility
It seems that the ATO will be taking a dim view (or dimmer, this year) of the abuse of work related expense claims for individual taxpayers. The total value of
Regulatory Roundup – April 2018
Require specific ATO advice on your SMSF? There’s a form for that The ATO says it can provide tailored technical assistance for SMSF trustees in some circumstances, orally
Capital works deductions for rental property
Rental property investors can claim capital works deductions for construction costs for a rental property, however there are limits imposed in relation to the dates such works were
Regulatory Roundup – March 2018
Small business CGT concession eligibility to tighten The government announced last year that it intended to tighten the eligibility factors for the CGT concessions that are generally available to small
Regulatory Roundup – February 2018
Community complaints prompt Inspector-General of Taxation to review PAYG instalments The Inspector-General of Taxation, Ali Noroozi, has just released his review into aspects of the pay-as-you-go (PAYG)
The ins and outs of “entertainment” business deductions
As a tax concept, “entertainment” can be relevant not only to fringe benefits tax (FBT), but also to income tax and even goods and services tax (GST). For a business,
Regulatory Roundup – December 2017
Square-peg expense won’t fit in a round-hole deduction? It could be a D15 Now and then you may be required to look around for a suitable item on your tax
Regulatory Roundup – November 2017
Changes to the depreciation of intangible assets Business taxpayers will know that asset depreciation is an important aspect to their business’s tax health and longevity. However the importance, and revenue
Regulatory Roundup – October 2017
How to keep your SMSF compliant even while travelling Are you an SMSF trustee who loves to travel? Sounds like a great lifestyle, however while planning your summer break you
Regulatory Roundup – September 2017
Deduction for association subscriptions — eligibility can endure into retirement Many professional, business or trades people are members of an association, and during their working life subscribe to an appropriate
Regulatory Roundup – April
Updated data applied to small business benchmarks The ATO has updated its small business benchmarks with information from key financial ratios drawn from information provided by businesses through activity statements
Regulatory Roundup
Regulatory Roundup Federal Court rules that ride-sourcing is taxi travel The Federal Court has handed down a decision in a case that deems ride-sourcing is taxi travel
Is Franchising Still Worth It?
7-Eleven and the franchising sector have been in the headlines lately, but for all the wrong reasons. Allegations of wage theft have surfaced, and further claims that a “half-pay scam”
ACCC issues scam warning
The Australian Competition and Consumer Commission (ACCC) has issued a warning to accountants to be on the lookout for scams targeting their small business clients. ACCC deputy chair Michael Schaper,
Simple Mistake on Share Transfer
A taxpayer who thought he was making a simple and standard family transaction was caught for Capital Gains Tax. A taxpayer, who owned some public company shares, asked the share