Tag: Tax
How Do I Declare My Income As An Influencer?
As an Influencer, it’s important that you declare your assessable income from all sources that it has obtained from which includes income made through endorsements, sponsorships and non-cash benefits. If income is not correctly reported, this can become an issue that may trigger ATO audits.
Did your super fund receive a compensation payment?
Is a financial services compensation payment to your superannuation fund a contribution? Of late, there have been several compensation payments made by financial services providers to customers that were inappropriately charged or overcharged for insurance premiums or services they did not receive.
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.
No more dodging tax: New share economy reporting rule set to begin
The individuals who participate in the share economy such as Uber, Deliveroo & Airbnb will no longer be able to escape their tax obligations as the government determines the implementation of a legislation for a new compulsory reporting regime.
Work from home expenses under scrutiny & the perils of browsing Facebook
If you worked from home during lockdown and spent money on work related items that were not reimbursed by your employer, you might be able to claim some of these expenses as a deduction – but not everything you purchase can be claimed.
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.
The Tax Handling of Cryptocurrencies in Australia
Cryptocurrency has been the term on everyone’s mind lately, the ATO is figuring out how to be sure that investors and traders aren’t dodging their taxation responsibilities.
Did someone say there are tax cuts coming?!?
1 July 2018 is the start date for the seven year income tax plan announced in the recent 2018-19 Federal Budget. But who gets the tax cuts from 1 July?
Business – What’s changing on 1 July 2018
Here are the key changes coming up for business on 1 July 2018.
Individuals – What’s changing on 1 July 2018
These are the main changes ahead for individuals from July 1 2018.
Tax Planning Tips – 2018
Here are our top five tax planning tips for 2018. It’s early June now, and a perfect time to go over these tips.
Tax Planning Tips – 2018
Tax Planning Tips for 2018 from Tax Champions: 1. Bloody Get it Done 2. Defer or Bring forward Income 3. Write Off Assets less than $20,000 4. Contribute to Super 15% Benefit 5. Restructure – This one is a MUST for some