The ATO is cracking down on undeclared taxable income earned in the “sharing economy”. Sharing economy services that you may earning income through, such as Uber, Lyft, Airbnb, or just through your own methods, is likely not to be tax-free hobby income but rather income that would […]
Read more →
Is A Contractor Really An Employee? There are so many myths about when is a contractor really an employee? Not understanding the differences could leave you in a lot of trouble with the ATO. Here’s a short video explaining more. There are a number of key determinants […]
Read more →Clients are encouraged to track how many hours they are spending in a dedicated office at home as you may be able to claim some expenses at in one’s own income tax return. There are two methods for claiming home expenses: using a diary for actual costs […]
Read more →
Changes to the Age Pension rules – will you be affected? From 1 January 2017 Government changes to the Age Pension are likely to reduce pensioner entitlements. It’s important that you understand how the changes could affect you. Increase in the Assets Test threshold The Assets Test […]
Read more →
Another Timely Warning Against Identity Theft The ATO is reminding Australians to protect themselves against identify theft this tax time. Assistant Commissioner Graham Whyte said identity theft was more common during tax time because of the large number of people lodging tax returns. “With the amount of […]
Read more →
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 […]
Read more →
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 […]
Read more →
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 […]
Read more →Taxable payments report is due on 28th August 2016. Have you lodged yours ? Please click here for further information.
Read more →
