Author: Rebecca Fletcher
The ATO examines property investors as deduction issues increase
The ATO has issued a warning to property investors this tax time following rental income and deduction errors found in over 70 per cent of tax returns audited last financial year.
Employers exempt from FBT for retraining employees
Employers who deliver training to employees who are to be made redundant will now be exempt from fringe benefits tax after the legislation passed through Parliament.
Tax exemption for ‘granny flat’ arrangements
To protect older Australians, the Government has moved to formalise ‘granny flat arrangements’ by providing an incentive to protect all parties in the arrangement.
Preventing a tsunami of insolvencies
Temporary insolvency and bankruptcy protections are in place until 31 December 2020 to enable businesses to trade through the pandemic.
PAYG Income Tax Withholding Variation
Many people like to get a big tax refund at year end, but why wait for your refund? Why not get it now? The ATO allows you to do just that.
HomeBuilder Grant supports new house builds and renovations
The HomeBuilder scheme is a time-limited, tax free cash grant intended to support the residential construction industry during the COVID-19 pandemic, but it does come with an extensive eligibility criteria.
Warning: ATO Text Scam
Ever since the invention of the Internet, there has always been a wide variety of scams floating around. A popular type of scam that we see frequently is people trying to pose as the tax office and claim non-existent debts from members of the public. Remember the iTunes gift card ATO scam? Recently, we have […]
Main Residence Exemption
Late last year, we finally saw some legislation passed that relates to the main residency exemption for people who no longer reside in Australia.
How does CGT work for Airbnb rental properties?
Airbnb rentals are treated uniquely when it comes down to Capital Gains Tax (CGT) and Income Tax.
Purchasing Property In Trusts In Victoria
The SRO have recently announced that any discretionary trust purchasing property in Victoria will need to have an express beneficiary exclusion clause to avoid the additional purchaser duty of up to 8%.
ATO Text Scam
Don’t be fooled. The tax office would never ask for your private details over SMS.
ATO Bushfire Relief & Assistance
It has been a devastating Summer for affected residents in Australia. Thankfully, the tax office is doing their bit to help.