Blog

The ATO has announced that it will be closely examining claims for work-related car expenses this tax time as part of a broader focus on work-related expenses. Assistant Commissioner Kath Anderson said: “We are particularly concerned about taxpayers claiming for…

The Government has introduced legislation to complement the superannuation guarantee (‘SG’) integrity package already before Parliament by introducing a one‑off, twelve-month amnesty for historical underpayment of SG. The Bill incentivises employers to come forward and “do the right thing by their employees”…

The ATO has reminded members of SMSFs that they will be able to use their voluntary super contributions to assist with buying their first home or to make a contribution into their super from the proceeds of the sale of…

The Government handed down the 2018/19 Federal Budget on Tuesday 8th May 2018. Some of the important proposals include: The introduction of the ‘Low and Middle Income Tax Offset’, a temporary non-refundable tax offset of up to $530 p.a. to Australian resident low and…

An employee photographer has been denied deductions for travel expenses (when traveling with his family), and other purported work-related expenses. The AAT held that the travel expenses were primarily incurred for the purposes of a family trip or holiday and…

Editor: The ATO has released Taxation Determinations setting out the following rates for the FBT year commencing on 1 April 2018. FBT: Benchmark Interest Rate The benchmark interest rate for the 2018/19 FBT year is 5.20% p.a., which is used…