Latest News

A “Cash Flow Coaching Kit” by the ATO for small businesses

The ATO has produced a “Cash Flow Coaching Kit”, which is a free resource and designed as a value-add advisory...
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Tax Impacts of Natural Disasters

The ATO sheds some light on the tax impacts of natural disasters. It says that if you are affected by...
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Single touch payroll: When your reporting can cease

A business may cease to lodge single touch payroll (STP) reports for a number of reasons. These are if your...
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Getting a tax valuation from the ATO

Not every individual situation fits neatly with the tax laws as they stand — sometimes a taxable item’s known value...
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JobMaker hiring credit: What you need to know

The JobMaker Hiring Credit scheme was passed into law in mid-November 2020. JobMaker was part of the 2020-21 Federal Budget,...
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Rounding of GST where fractions of a cent result

The ATO has devised special rounding conventions where an amount of GST includes a fraction of a cent. Although it...
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New Data Matching Programs Initiated by Federal Government

Over the first quarter of this financial year, the government has initiated two new data-matching programs, using data that the...
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ATO takes aim at ‘you-scratch-my-back’ auditing arrangements

It has long been an accepted standard that the auditor of an SMSF needs to be independent of that fund,...
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Claiming Interest Expenses for Rental Properties

Did you know that if you take out a loan to purchase a rental property, you can claimthe interest charged...
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What you need to know about Recipient Created Tax Invoice in 2021

Tax invoices are an essential element of Australia’s taxation system and serve both to collect tax revenue related to the...
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What the “full expensing” write-off deduction means for business

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Personal Services Income

Personal Services Income

The personal services income (PSI) rules apply to income that is earned mainly from the personal efforts or skills of...
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Home Office Expenses

Home Office Expenses

If you are an employee working from home or a business owner who runs your business from home, you can...
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Extension of Instant Asset Write-off for Small Business

Extension of Instant Asset Write-off for Small Business

Due to the prevailing situation of COVID-19, the government has decided to temporarily extend the access of instant write-off up...
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