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The ATO is reminding taxpayers who earn income through the sharing economy that they have tax obligations they should consider. Examples of sharing economy services include: ride-sourcing – providing taxi travel services to transport passengers for a fare;  renting out…

The ATO is allowing SMSF trustees additional time until 31 January 2017 to ensure that any limited recourse borrowing arrangements (LRBAs) that their fund has are on terms consistent with an arm’s length dealing, or alternatively are brought to an end. Editor:…

There has been quite a lot in the media about the Australian Tax Office cracking down on large multinational firms who are using a number of strategies to avoid paying their fair share of tax. The 2016 Australian Government budget…

The ATO has provided an update of the amounts it will accept for 2015/16 as estimates of the value of goods taken from trading stock for private use  by taxpayers in certain specified industries. these figures are only applicable for sole traders…

With Tax Time 2016 just around the corner, the ATO has stated it will be paying close attention to excessive interest expense claims, and incorrect apportionment of rental income and expenses between owners. The ATO is also looking at holiday homes that are not genuinely available…

The ATO has published the 2016 September quarter rates for the General Interest Charge (GIC) and the Shortfall Interest Charge (SIC): GIC annual rate 9.01% GIC daily rate 0.02461749% SIC annual rate 5.01% SIC daily rate 0.01368852% “Disclaimer: The information is through NTAA” …