Changes to car thresholds from 1 July The car limit for the 2026 income year is $69,674.  This is the highest value that a taxpayer can use to calculate depreciation on a car where they... Read More

'Wild' tax deduction attempts The ATO recently revealed some of the 'wild' work related expense tax claims people have tried to "put past" the ATO, including the following: - A mechanic tried to... Read More

How to manage business day-to-day transactions The ATO has the following tips for small business owners "that can make your tax life easier: - They should keep an eye on upcoming expenses and... Read More

ATO's new focus for small business The ATO is currently focusing on the following 'specific risk areas', where it is concerned "small businesses are getting it wrong". - Contractors omitting... Read More

How to master employer obligations in 2025 Taxpayers who employ staff should remember the following important dates and obligations: Fringe benefits tax ('FBT') 31 March 2025 marks the end of... Read More

CGT withholding measures now law The Government recently passed legislation making changes to the foreign resident capital gains withholding laws (among other changes). Editor: Foreign resident... Read More

Year-end (and other) staff parties Editor: With the well earned December/January holiday season on the way, many employers will be planning to reward staff with a celebratory party or event. ... Read More

Can staff celebrations attract FBT? With the holiday season coming up, employers may be planning to celebrate with their employees. Before they hire a restaurant or book an event, employers... Read More

Hiring employees for the festive season As the festive season approaches, employers that hire new employees to help with their business should remember the following when it comes to their... Read More

Avoid a tax time shock Individual taxpayers can take the following steps right now to ensure the correct amount of tax is being put aside throughout the year: - let their employer know if they... Read More

Taxpayers can start lodging their tax returns With millions of pieces of information now pre-filled (including information from most banks, employers, government agencies and private health... Read More

ATO's tips for correctly claiming deductions for rental properties Taxpayers who have work done on their rental property should consider the following factors in determining claims for... Read More