Latest News
ATO warning regarding private use of work vehicles and FBT
Employers that supply work vehicles to their employees need to check how the work vehicles are used and whether any exemptions apply to determine if they attract fringe benefits tax (‘FBT’). FBT generally applies when a work vehicle is made available for private use, even if it is not actually used. Private use includes any […]
Tips to help sole trader clients
The ATO is seeing sole traders make mistakes in the following areas: not reporting all income — this includes income earned outside their business (like a ‘side hustle’), cash jobs, or payments in-kind/barter deals; overclaiming expenses — this includes claiming the portion of an expense related to personal use, or overstating the cost of goods […]
Correctly dealing with rental property repairs
Taxpayers who have had work done on their rental property should ensure the expense is categorised correctly to avoid errors when completing their tax return. A deduction for ‘repairs and maintenance’ expenses can be claimed for work done to remedy, or prevent defects, damage or deterioration from using the property to earn income. These expenses […]
Reminder of September Quarter Superannuation Guarantee (‘SG’)
Employers are reminded that employee super contributions for the quarter ending 30 September 2025 must be received by the relevant super funds by Tuesday, 28 October 2025. If the correct amount of SG is not paid by an employer on time, they will be liable to pay the SG charge, which (as noted above) includes […]
Employees incorrectly treated as independent contractors
The ATO is warning businesses that if they incorrectly treat an employee as an independent contractor, then they risk receiving penalties and charges, including: PAYG withholding penalty for failing to deduct tax from worker payments and send it to the ATO; Super guarantee charge (‘SGC’), which is more than the super that would have been […]
PAYGW reminders for activity statement lodgments
The ATO will be sending certain employers a reminder to lodge their activity statements. The reminder will include the amounts the ATO has on record for them, such as: PAYG withheld amounts reported through Single Touch Payroll; and any other pre-filled amounts, including GST instalments and PAYG instalments (instalment amount option). The ATO’s reminders are […]
Records you need to keep
During the financial year you’ll receive documents that are important for doing your tax, such as payment summaries, receipts, invoices and contracts. Generally, you need to keep these for 5 years from when you lodge your tax return in case we ask you to substantiate your claims. Records you need to keep include: Payment summaries […]
ATO Reviews and Audits
A tax review or audit is an examination of your affairs we conduct to see if you have done what you are required to do under the tax and superannuation laws, including whether you: Have declared all the assessable income you receive Are entitled to the deductions and tax offsets you have claimed on your […]
Record Keeping
The Australian tax system relies on taxpayers self-assessing. This means that you are responsible for your own record keeping and working out how much you can declare and claim as a deduction on your tax return. You also need to be able to show how you arrived at these figures, in some cases you may […]
Dealing With Disasters
If you have been affected by a disaster, such as a flood, bushfire or storm, don’t worry about your tax affairs right away. The ATO will give you time to deal with your more immediate problems first and then we can help you to sort out your tax affairs later. More time to lodge, pay and […]
Deceased Estates: A Brief Guide to Tying up the Loose Ends
After a person dies, and the usual arrangements are completed, there will come a time when other matters, such as tax and superannuation issues, must be looked after. The person who takes on the responsibility for administering a deceased estate is commonly referred to as the executor, but could also be known as an administrator […]
Federal Budget 2017 – 2018
Federal Budget Summary The Budget announcements contain a suite of tax and superannuation measures aimed at increasing housing stock and improving house affordability. While the government has not gone close to clamping down on the political and social hot potato of negative gearing, it has taken some steps to restrict the travel expense and depreciation […]