For employees who are conducting a portion of their work from a home office, the ATO has increased the rate of home office expenses related deductions. From the previous rate of 34 cents an hour, the fixed rate has been increased by more than 32 percent to 45 cents an hour. The employee can onlyread more

The 2015 Taxable Payments Annual Report is due on 28 August 2015 for those who are in the building and construction industry who pay contractors for building and construction services. The total amount of payments made to each contractor must be reported each year by businesses in the industry. The aim of the taxable payments reportingread more

With 30 June well behind us it's time to collate your tax records to ensure ATO (Australian Taxation Office) deadlines are comfortably met. Although not yet due, there are advantages of preparing your tax return now, even if we don't lodge it straight away. The reason could be: To get your tax refund To budgetread more

Are you interested in putting together a tax plan or just looking for extra ideas for tax time? To assist with finding the bit most relevant to you in reading this planning document, we have divided the topics into: General year-end tax planning tips; Business year-end tax planning tips; Individuals year-end tax planning tips; Year-endread more

With the end of another financial year nearly upon us and thoughts turning to our next income tax returns, it is timely to consider what factors may trigger an Australian Taxation Office (ATO) audit. In recent years, the ATO has implemented sophisticated data matching technology and is better equipped than ever before to scrutinise financialread more

Personalised Business Activity Statements (BAS) are provided by the Australian Taxation Office (ATO) to businesses in order for them to report their taxation obligations such as: goods and services tax (GST), luxury car tax (LCT), fuel tax credits, wine equalisation tax (WET), pay-as-you-go (PAYG) withholding and instalments, fringe benefits tax (FBT) instalments and deferred companyread more

Effective 1 April 2015, Fringe Benefits Tax will increase from 47% to 49%. In order to prevent individuals who earn more than $180,000 from self-sacrificing into fringe benefits to avoid extra tax, the temporary budget repair levy of another 2% has been imposed. In order to entice the best staff, minimise turnover and increase efficiency,read more

The Australian Taxation Office (ATO) have implemented important changes to the way they manage the delivery of Activity Statements. If you or your registered agent lodges an activity statement on your behalf through an electronic channel, your next activity statement will be available only in electronic format – the ATO will not send a paperread more