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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…

The government has introduced legislation for the following three small business measures that, if passed, will apply from 1 July 2015: A tax offset to individuals who run small businesses (with an aggregate annual turnover of less than $2 million),…

ATO increases focus on rental property deductions The ATO has advised that it will have an increased focus on rental property deductions this Tax Time. It says that it will be paying closer attention to excessive deductions claimed for holiday…

SuperStream date extended for medium to large employers Although all large and medium-sized employers were meant to be ready for SuperStream by 30 June this year, the ATO has advised that, for those who are not yet ready, it will…

Government moves to get Single Touch Payroll right Under Single Touch Payroll, employers’ accounting software will automatically report payroll information to the ATO when employees are paid. This will eliminate the need for employers to report employee-related Pay As You…

Long Service Leave requirement for the Building and Construction Sector If you are in the building and construction sector are you aware of co-invest. If not then you need to be as you need to be paying 2.7% of wages…