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 […]
Sitting on the Fence?
Why people DO it Around 20% of Australians invest in property for: Potential capital growth Rental income Tax benefits. They tend to consider property one of the more solid, less volatile forms of investment because you can actually touch bricks and mortar. They like the feeling of getting ahead financially. They don’t want to be […]
JobMaker Hiring Credit Scheme: Claims Open From 1 February 2021
| | | The JobMaker Hiring Credit is being administered by the ATO and provides a wage subsidy payment directly to employers as an incentive to employ additional job seekers aged 16 to 35 years. Registrations for the JobMaker Hiring Credit scheme opened on 7 December 2020, and claims for the first JobMaker period […]
Changes To STP Reporting from 1 July 2021
| | | Employers should have already been reporting through Single Touch Payroll (‘STP’) unless they only have closely held payees, or they are covered by a deferral or exemption. From 1 July 2021, there have been changes to STP reporting for small employers with closely held payees and quarterly reporting for micro employers. […]
Additional ATO Support During COVID-19
| | | The ATO is providing additional support to taxpayers having difficulty meeting their tax and superannuation guarantee charge obligations for employees because of COVID-19. Available support includes the following: Lodgment or payment support options – for example, payment plans or remitting interest and penalties. Varying PAYG instalments – The ATO will not apply […]
Changes to STP Reporting Concessions From 1 July 2021
| | | Small employers (19 or fewer employees) are currently exempt from reporting ‘closely held’ payees through Single Touch Payroll (‘STP’). Also, a quarterly STP reporting option applies to micro employers (four or fewer employees). These concessions will end on 30 June 2021. The STP reporting changes that apply for these employers from […]
ABN Intent To Cancel Program
| | | The ATO is reviewing Australian business numbers (‘ABNs’) to identify potentially inactive ABNs for cancellation, and it has introduced a new automated process to allow taxpayers (or their tax agents) to confirm if their ABN is still required via a secure voice response system. An ABN may be selected if the taxpayer […]