INCREASED SCRUTINY OF HOME OFFICE CLAIMS
Last year, 6.7 million taxpayers claimed a record $7.9 billion in deductions for 'other work related expenses', which includes home...
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ATO DATA MATCHING AND SHARE TRANSACTIONS
The ATO has extended its data matching program, this time focusing on share data. The ATO will continue to receive share data from ASIC,...
BAN ON ELECTRONIC SALES SUPPRESSION TOOLS
From 4 October 2018, the Government has banned activities involving electronic sales suppression tools ('ESSTs') that relate to people or...
ATO GUIDANCE REGARDING DOWNSIZER CONTRIBUTIONS'
The ability to make 'downsizer contributions' effectively commenced on 1 July 2018, prompting the ATO to release further guidance with...
COMPANY LOANS TO SHAREHOLDERS UNDER REVIEW
The Government has released a consultation paper outlining proposed reforms to 'simplify' the loan agreements that are generally required...
EXPANSION OF THE TAXABLE PAYMENT REPORTING SYSTEM
The Taxable Payments Reporting System ('TPRS') has been expanded to the cleaning and courier services industries from 1 July 2018....
INCREASE IN PRIVATE HEALTH INSURANCE EXCESSES
Legislation has been passed by Parliament to implement the Private Health Insurance (‘PHI’) reforms announced by the Government in...
TAXATION OF INCOME FOR AN INDIVIDUAL'S FAME OR IMAGE
The Government has released a consultation paper with respect to the implementation of the 2018/19 Federal Budget announcement relating...
CLAIMS FOR HOME OFFICE EXPENSES INCREASED
The ATO has updated the hourly rate taxpayers can use to determine deductions for home office expenses from 45 cents to 52 cents per hour...
ATO TO SEND TEXT MESSAGES IF BANK ACCOUNT DETAILS INCORRECT
The ATO has advised that will send SMS text messages directly to taxpayers where incorrect bank account details were included in their...
ATO flags 5 most common tax time mistakes
As tax time 2019 kicks off, the ATO has profiled what it says are the 5 most common mistakes and the personalities most likely to have to...
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