Archive for the Taxation Category

Claiming Work Related Expenses? What You Need to Know

Claiming Work Related Expenses?  What You Need to Know The ATO are paying attention to people who are over-claiming work-related expenses. If you can satisfy these three rules then the expense is claimable: You must have spent the money and were not reimbursed It must be directly […]

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Tax time is prime time for scams

Tax time is prime time for scams

Tax time is prime time for scams Yet again, the ATO is warning tax payers against fraudsters attempting to scam them by posing as ATO representatives. In 2015 almost 87,000 phone and email scams were reported to the ATO, an increase of over 90 per cent from […]

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Tax Scheme Sound too good to be true? It probably is!

Tax Scheme Sound too good to be true? It probably is!

Tax Scheme Sound too good to be true? It probably is! The ATO has launched Project Super Scheme Smart, an initiative aimed at educating advisers and individuals about the potential pitfalls of retirement planning schemes. The ATO has had considerable success to date in shutting down tax avoidance […]

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ATO Targets Dodgy Tax Deductions

ATO Targets Dodgy Tax Deductions

ATO Targets Dodgy Tax Deductions With over eight million Australians claiming work-related expenses each year, Assistant Commissioner Graham Whyte from the ATO is reminding people to make sure they get their deductions right this tax time. “Australians claim over $21 billion in work-related expenses each year, and […]

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Warning to clients doing their own BAS

Warning to clients doing their own BAS

Warning to clients doing their own BAS Hidden risk in amending BAS We recently came across this article from Worrells Solvency & Forensic Accountants and we wanted to share it with you because it has some serious implications. “We should all be aware of the current provisions relating […]

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600 Targeted in Random ATO Audits

600 Targeted in Random ATO Audits

600 Targeted in Random ATO Audits Back in June, the Australian Tax Office told a Parliamentary standing committee on tax and revenue that it was “considering” reintroducing random audits. Now the ATO has confirmed random audits will commence in 2016. The compliance program targeting 600 individuals and […]

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