Month: August 2015

Employee share scheme changes The ATO has announced that, from 1 July 2015, there are new rules for the tax treatment of employee share schemes (ESSs), as well as tax concessions for start-up companies. The ESS changes allow employees to…

Tax support service for drought affected communities The government has announced a new service to help drought affected communities manage their tax affairs when times are tough, and has set up a dedicated hotline on 13 11 42. The ATO…

Data matching to be expanded on individual returns The ATO has advised that last year, it cross-referenced information reported in tax returns against over 600 million transactions provided to it by third parties to identify omitted income and gains, or incorrectly-claimed…

81 year-old WA pensioner loses $110,000 in tax scam An octogenarian caring for his sick wife has lost $110,000 in a tax scam. WA Consumer Protection says the 81 year-old was duped by scammers pretending to be from the ATO.…

Change to the way taxpayers claim work-related car expense deductions Currently, taxpayers have an option to use one of four methods to determine their work‑related car expense deductions. The government is proposing to reduce the number of methods by removing…