Hello Chasers, So, you have made a personal superannuation contribution to your superannuation fund during the year and want to claim it as tax deduction when you lodge your income…
Hello Chasers, The ATO (Australian Taxation Office) is encouraging small businesses to take advantage of a new opportunity to catch up on their overdue tax returns and activity statements. This…
Hello Chasers, Quite often business owners will use a company credit card to pay for personal things because of the convenience rather than using their wages. The problem is that…
The ATO has announced its three key focus areas for this Tax Time: ◆ rental property deductions. ◆ work-related expenses; and ◆ capital gains tax. ATO Assistant Commissioner Tim Loh…
Hello Chasers, The Government has announced that, from 1 July 2026, employers will be required to pay their employees’ superannuation at the same time as their salary and wages. This…
Hello Chasers, The ATO’s Small Business Newsroom recently released an article, accompanied by a media statement, emphasising the ATO’s growing efforts to encompass “new and emerging ways to make money”…
Hello Chasers, From 1 July 2023 until 30 June 2024, the Government will temporarily increase the instant asset write-off threshold from $1,000 to $20,000. Small businesses with an aggregated annual…
The ATO has reminded SMSF trustees that their SMSF must be operated for the sole purpose of providing retirement benefits for its members. This means SMSF trustees can’t use funds…
The ATO has advised that it will acquire residential investment property loan data from authorised financial institutions for the 2021/22 through to 2025/26 financial years, including: client identification details (names,…
Deductions under ‘temporary full expensing’ are only available in the 2021, 2022 and 2023 income years, and are expected to come to an end on 30 June 2023. Under temporary…
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