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 […]
What You Need to Bring to Your Tax Return Appointment.
If you’re coming in soon to discuss your tax return for yourself or your business, try not to turn up completely empty handed, or at least to turn up prepared with some records or electronic access to them. To “be prepared” is not just a great scouting motto, but a wise approach for everyone, […]
You May Already Have What it Takes to be a Good Property Investor
It’s not necessarily a six figure salary! Did you know that your skill and experience in managing a tight budget could make you a better property investor than some big spending high income earners? we often meet people who are hooked on the good life: living in expensive suburbs, fancy cars, frequent dining out and […]
Deduction Tip: Can you claim the cost of travelling to this office?
Tax time has arrived, but before you have us lodge your return here is another deduction tip – should your circumstances allow (or file this away for next income year). The ATO recently issued what it calls a “tax determination” which more clearly spells out the circumstances of what may be an allowable claim […]
Streaming Trust Capital Gains and Franked Distributions
The ATO has stated that a trust’s capital gains and franked distributions can, if not prevented by the trust deed, be streamed to beneficiaries for tax purposes by making these beneficiaries “specifically entitled” (more below) to the amounts. This allows beneficiaries to offset capital gains with their capital losses, apply applicable discounts and, subject […]
Running Your Business From Home
If your home is also your place of business, you can claim income tax deductions for a portion of the costs of owning, maintaining and using your home for this purpose. When you sell your home you may be liable for capital gains tax. Your home is your place of business if you run your […]
Employers End of Financial Year Checklist
If you run your own business the below checklist is key. To do Checklist: Payment Summaries Have you paid employees this financial year? Don’t forget to provide them with their payment summary by 14 July- even if you didn’t withhold any tax. You can order a copy of the ATO ‘PAYG payment summary – individual […]