Latest News
Businesses using cash to dodge obligations
The ATO is ‘cracking down’ on businesses that use cash to dodge obligations on their tax, employer and business. Businesses that do this may: – fail to report all sales transactions and fail to issue receipts; – avoid paying GST, income tax, PAYG withholding, super guarantee, insurance and work cover protection; – report their income […]
$20,000 instant asset write-off extended
Editor: The Government recently passed legislation to extend the $20,000 instant asset write-off for small businesses by 12 months to 30 June 2026. Taxpayers should note that if their business has an aggregated annual turnover of less than $10 million, they may be able touse the instant asset write-off (‘IAWO’) to immediately deduct the business […]
Tax dodgers banned from leaving the country
The ATO is actively using departure prohibition orders (‘DPOs’) as part of a broader shift towards strengthening payment performance and debt collection. A DPO is an enforcement action available to the ATO to prevent certain persons with tax liabilities from leaving Australia without paying their outstanding tax. Since July 2025, the ATO has issued 21 […]
Paying super guarantee
The ATO is reminding employers that they must pay super guarantee (‘SG’) contributions for eligible employees. Employers need to pay a minimum of 12% (the current SG rate as from 1 July 2025) of each employee’s ordinary time earnings into a complying super fund on a quarterly basis (the due date for the March 2026 […]
Taxpayer’s dog breeding activities held to be an enterprise
The Administrative Review Tribunal (‘ART’) recently held that a taxpayer had carried on an enterprise of dog breeding for GST purposes. He had lodged activity statements for the quarters ended 30 September 2018 to 31 December 2021 inclusive, claiming input tax credits (‘ITCs’) for the dog breeding activities he carried on from his home (among […]
Time limits on GST and fuel tax credit claims
Taxpayers should note that GST credits and fuel tax credits will expire if not claimed within the 4-year credit time limit (i.e., generally four years from the due date of the original BAS in which the taxpayer could have claimed them). Once credits expire, the ATO has no discretion or ability to amend the assessment […]
Disaster Planning
Q: I have great sympathy for the businesses which were battered by the floods, fires and cyclones in Australia this year. These things can happen to anyone, any time. What should I do to make my business disaster-proof? A: Identify which data and applications are critical to your business, then ensure you have them backed […]
Reward program benefits can be tax-free
Many companies, or even whole industries, offer their customers loyalty award-based incentives programs. These programs, such as the “Frequent Flyer” and “Fly Buys” schemes, are designed to reward customers for purchasing or using a company’s goods and services (or indeed, those of its affiliates). As a result of one particular court case, the Tax Office […]
What Is The Medicare Levy Surcharge
What is the Medicare levy surcharge and what is it for? The Medicare levy surcharge (MLS) is designed to reduce the demand on the public Medicare system. You will be required to pay the MLS if your income for MLS purposes is above the base income threshold and you or your family do not have […]
Identity theft crime & protecting your personal information
Identity theft crime happens when someone uses a stolen, manipulated, or assumed identity to commit fraud or other crimes. It can involve creating a new identity, false identity, or using stolen information to impersonate someone else. Identity Theft Crime and You Criminals can start using your identity with some basic details, such as your name, […]
Investing Overseas
As an Australian resident, you are taxed on your worldwide income, including your income from: offshore bank accounts interests in foreign entities rental income from overseas property capital gains on overseas assets. You must declare all overseas income from these sources in your Australian tax return. If you have paid tax on any of this […]
Are you an Australian resident for tax purposes?
Generally, the Australian tax office consider you to be an Australian resident for tax purposes if you: Have always lived in Australia or have come to Australia to live Have been in Australia for more than half of the income year (unless your usual home is overseas and you don’t intend to live in Australia […]