News

As an employer, you have a legal obligation to pay FBT on any car that you provide to your employees for private use - that said, there a couple of exceptions to this rule, so let’s explore them in more detail: Limited Private Use Regardless of the type of vehicle,...

When you’re claiming FBT exemption for a car, a ute, in this case, it’s under the pretence that you’re only using it sparingly for personal usage. According to Deputy Commissioner for employer obligations and superannuation, Emma Rosenzweig, the ATO is now on a...

Program objective If you are a small business owner in NSW, this $1,000 rebate will help you purchase safety items to improve work health and safety for you and your workers. Annual report You can find out more about how the program has performed over the...

You login to your myGov account to find that your activity statements for the last 12 months have been amended and GST credits of $100k issued. But it wasn’t you. And you certainly didn’t get a $100k refund in your bank account. What happens now? In what is rapidly...

The Tax Commissioner has successfully argued that more than $1.6m deposited in a couple’s bank account was assessable income, not a gift or a loan from friends. The case of Rusanova and Commissioner of Taxation is enough for a telemovie. The plot features an...

Are you looking to maximise your tax refund? Perhaps you’re just looking to pay less tax on your annual tax return? Whatever your reasoning, we’re here to show you how to legally and compliantly reduce your tax payments. Learn five simple steps that will help you...

Rob Thomson, who is the ATO assistant commissioner, has issued a reminder on behalf of the ATO to keep taxpayers like yourself wary of how to actually maintain proper records for any work-related expenses you have - which is a key area of focus for the ATO. These...

What was historically made so that employees who stayed with the same employer for a certain amount of time could be rewarded, this form of long service leave is actually inaccessible to the majority of Australian workers in the construction or building industry...

While the name definitely makes it sound a bit more complicated than it actually is, the TPAR is basically just a report that the ATO uses so they can spot anyone who’s not fulfilled their tax obligations - the crux of it is that you’re reporting any payments you’ve...

When it comes to claiming tax deductions for watches or smart watches, the rules are actually quite specific - the main takeaway I noticed here, though, is that there’s generally only a few exceptions, and in the majority of cases they’re just considered as a private...