The investment option that can hide unexpected GST - Tax Accountants North Ryde
New residential property is a popular investment for many, and can be especially so for self-managed superannuation funds, however the ATO is concerned that not every investor in residential property is fully aware that it is an option that may bring with it unexpected GST obligations.
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ATO’s cyber safety checklist - Tax Accountants Norfolk Island
Scammers never seem to rest, with even the lastest JobKeeper iteration coming in for some scam treatment. In a new update the ATO reports that it is receiving reports of email scams about JobKeeper and backing business investment claims. “The fake emails say we’re investigating your claims. They ask you to provide valuable personal information, including copies of your driver’s licence and Medicare card.”
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Both tax and SMSF audits on still on ATO’s radar, but some leniency given - Tax Accountants Mackay
While the ATO has lately been focusing on the rollout of stimulus measures, it has also flagged that audit work is not off the table completely.
What the “full expensing” write-off deduction means for business - Tax Accountants Liverpool
The Federal Budget measure of allowing businesses to fully write-off eligible assets is a boon to Australian businesses, even though the measure is temporary. Just to recap, businesses with aggregated annual turnover of less than $5 billion will be able to deduct the full cost of eligible capital assets acquired from 7:30pm AEDT on 6 October 2020 (Budget night) and first used or installed by 30 June 2022.
Federal Budget 2020-21
We all understand that budgets are an exercise in predicting the future. Given what has happened in 2020, gazing into the crystal ball and extracting something reliable is fraught with difficulty.
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New data matching programs initiated by Federal Government - Tax Accountants Hervey Bay
Over the first quarter of this financial year, the government has initiated two new data matching programs, using data that the ATO holds.
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