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Holiday homes that taxpayers rent out Editor:  The ATO has updated its information guide on claiming deductions on holiday homes.  This may have something to do with its stated intention to increase its audit focus on holiday homes that are…

FBT:  Car parking threshold The car parking threshold for the FBT year commencing on 1 April 2015 is $8.37.   This replaces the amount of $8.26 that applied in the previous year commencing 1 April 2014. Please Note: Many of the…

Luxury car tax threshold The luxury car tax threshold for the 2015/16 financial year is $63,184.  The fuel-efficient car limit for the 2015/16 financial year is $75,375.   Please Note: Many of the comments in this publication are general in…

ATO’s new appeals division – the “RDR” In a recent speech, an ATO Second Commissioner spoke about the ATO’s new Review and Dispute Resolution (RDR) area which is being set up as a separate division to review objections and appeals.…

Tax help for people affected by severe weather in NSW The ATO has advised that, if taxpayers have been affected by the recent severe weather throughout NSW, the ATO understands that dealing with their tax affairs is probably the last…

The sharing economy Editor:  The ATO has issued an information guide titled the ‘Sharing economy and tax’.  It states that the ‘sharing economy’ is a new way of connecting buyers (‘users’) and sellers (‘providers’) for economic activity. Sharing economy arrangements…