ATO recommends updating ABN details
ATO recommends updating ABN details for disastrous reasons The ATO has provided a novel, though important, reason for businesses to update their ABN details: to help businesses to manage the Read More…
Company or trust home-based business deductions
Deductions for a company or trust home-based business The ATO reminds taxpayers that, if they run their home-based business as a company or trust, their business should have a genuine, Read More…
Making a ‘cents per kilometre’ claim
Using the cents per kilometre method The ‘cents per kilometre’ method broadly allows an individual taxpayer to claim up to a maximum of 5,000 business kilometres per car, per year Read More…
Personal Services Income rules
Federal Court provides clarification on the PSI rules The Federal Court recently handed down two decisions relating to the personal services income (‘PSI’) rules. Income is classified as PSI when Read More…
The ATO hits the road
Could you be a black economy target? The ATO plans to visit almost 10,000 businesses this financial year in all States and Territories, across a variety of industries, as part Read More…