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Posts Tagged ‘taxation’
Update – ATO Electronic Correspondence and Communication Preferences
November 19th, 2021You may have caught our article a few months ago regarding the moves the Australian Taxation Office (ATO) is making in shifting their correspondence to business owners from paper-based “snail mail” to electronic formats. As the roll-out and wider adoption of these changes continues, we are seeing a few instances where information isn’t reaching theread more
31 October Tax Deadline – Are You Ready?
October 28th, 2021It may feel like 1 July was only the other week, but wouldn’t you just know it – we’re just about at the end of October. With that, it’s worth the reminder that 31 October is the deadline for lodging your tax return if you are planning on doing so yourself. This means you haveread more
Demystifying the Employee vs Contractor Confusion
September 3rd, 2021Finding employment solutions for your business is a challenge - sourcing the right person, with appropriate experience, at a fair wage, isn't always easy. Furthermore, classifying your workers correctly as a contractor or employee may not always be clear when you're recruiting for a role, and is an area where many businesses have been caughtread more
Getting Ahead of Your Next Tax Return
August 12th, 2021The 2021-22 Financial Year is already several months old now (if you can believe that), and by now many taxpayers have their ducks in a row to lodge their tax return for 2020-21. But while that’s happening, clever business owners and salary earners are putting down the groundwork to make next years’ an absolute breeze.read more
Cryptocurrency – Thinking Outside the Blockchain
June 18th, 2021Blockchain technology is by no means a new concept, but its recent explosion in the mainstream consciousness (particularly around DeFi, NFTs and the price of Bitcoin) makes it worthy of further consideration – especially from a cryptocurrency tax and compliance point of view. The scope of blockchain-based activity is incredibly complex – it’s not asread more
Working from Home Deductions at Tax Time – The ATO’s Crackdown Hotspot
May 27th, 2021The new financial year is here, and the more organised among us are already planning the deductions we’re looking to claim for our 2020-21 tax return. Given that global circumstances changed the way many people worked throughout this financial year, there will be a noticeable shift in the types of deductions people claim – especiallyread more
Refresher: The Main Residence CGT Exemption
March 19th, 2021When it comes to an important moment in your life like selling your family home, the last thing you want is to be slugged with an unnecessary tax liability. Capital Gains Tax (CGT) is something that we’ve covered at length in a few previous articles (see here and here); but today we’ll dig a littleread more
Home-Based Businesses – Know your Deductions
November 6th, 2020Now that another financial year has been and gone, it can be tempting to put tax to the back of your mind as you gear up for another busy year. However, if you’re running a business, particularly from home, it is crucial that you keep on top of what you can claim as a deductionread more
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