Common business errors at tax time
Avoiding small business tax time errors The most common errors small businesses make when completing their tax returns are failing to: declare all income account for private use of business Read More…
ATO property data-matching programs
New ATO data-matching programs involving property The ATO has advised that it will engage in two new data-matching programs dealing with property transactions, as follows: The ATO will acquire property Read More…
Cryptocurrency tax obligations
Cryptocurrency under the microscope this tax time The ATO is concerned that many taxpayers believe their cryptocurrency gains are tax-free, or only taxable when the holdings are cashed back into Read More…
Work related expenses reminder
ATO warns on ‘copy/pasting’ claims The ATO is alerting taxpayers that its sights are set on work-related expenses like car and travel claims that are predicted to decrease in this Read More…
2020/21 Year-end Checklist for Business
Traditionally, year-end tax planning for small businesses is based around accelerating deductions and deferring income However, this year, consideration will also need to be given to the impact of the Read More…