Blog

Unwrapping the joys and pitfalls of giving

Christmas is a time of giving, when thoughts turn to family and to helping those less fortunate. To gift in a meaningful way that maximises the benefits, it's important to consider tax.

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Tax Alert: December 2019

If the introduction of Single Touch Payroll (STP) wasn't a big enough challenge, small businesses can now look forward to the arrival of e-invoicing and changes to the Superannuation Guarantee (SG) rules.

Here's a roundup of some of the latest tax developments:

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Tax Alert: September 2019

The landscape of Australia's personal income tax system has changed significantly following the passage of the Morrison Government's tax legislation through the Parliament.

Here's a roundup of some of the other recent developments in the world of tax.

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Getting on top of tax debt

Although most Aussies pay their tax bill on time, some can't - or just won't pay what they owe.

In the 2017-18 financial year, the ATO collected over $500 billion in liabilities from Australian taxpayers, with 89.5 per cent of us paying on time and 95.9 per cent paying within 90 days of the due date on their tax return.

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Tax man sizes up clothing claims

Submitting a claim for your work-related clothing expenses is common come tax time, with more than six million Aussies claiming deductions in the past financial year.

But this year it's a deduction that's likely to bring your tax return right under the ATO's spotlight, as the regulator is cracking down on the rapidly growing number of these claims.

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Cruising through the finish line

The end of financial year can sometimes feel like a race to the finish. To help you cruise through the finish line come June 30, we've prepared a handy list of tips for both businesses and individuals.

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After the election: tax changes on the way

With the uncertainty of the federal election now out of the way, we can look forward to some significant reforms to Australia's existing tax system.

The Morrison Government went into the election with a comprehensive suite of tax proposals and these are now likely to pass swiftly through Parliament, as the Opposition has indicated it will support the legislation.

So just what are the changes we are likely to see when it comes to both our personal tax and the taxes that apply to small and medium-sized businesses?

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Make tax time less taxing

Tax time comes around with alarming regularity, so why is it that we tend to wait till the 11th hour to get all our affairs in order?

Good tax planning is about more than simply maximising deductions. It enables you to focus on the big picture so you can arrange your business and personal affairs in the most tax effective way and make the most of our services and tax updates throughout the year. Not only will it reduce stress as June 30 approaches, but you could end up better off as you won't have forgotten anything in the last-minute scramble.

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Tax Alert: March 2019

With small business votes likely to be a key battleground during the Federal election campaign, the Morrison Government has announced its first tax sweeteners.

Here's a round up of key developments in the world of tax:

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Car expenses on the ATO's radar

With almost 4 million Australians making work-related car expense claims, the Australian Tax Office has the practice in it's headlights.

Not only are they on the lookout for people wrongly claiming, but they are also armed with enhanced technology to check these claims.

As a result, you need to make sure that if you claim your car expenses, or if your employees use a company car for private use, that you are sticking to the rules, not double dipping and not misrepresenting actual usage.

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