JobKeeper audits underway
First reports of ATO audits lands one small business in debt Imagine going through all the rigmarole to apply for JobKeeper when COVID-19 restrictions were rife, only to have your Read More…
Property inspections – are physical inspections necessary?
COVID-19 and tax depreciation reports Where a physical inspection of premises is not performed, this increases the risk of deductions being missed or errors being made. Property investors and businesses Read More…
Lifestyle assets continue to be an ATO audit target
Lifestyle assets targeted The ATO has revealed it will request a further five years’ worth of policy information from over 30 insurance companies about taxpayers who own marine vessels, thoroughbred Read More…
ATO cash economy
Continued focus on the cash economy ATO Assistant Commissioner Peter Holt has announced that, in the 2019/20 financial year, the ATO will be visiting a further 10,000 small businesses across Read More…
Mid-Year Economic and Fiscal Outlook
MYEFO report Mid-Year Economic and Fiscal Outlook (‘MYEFO’) report recently released. It indicates that the underlying Budget deficit is expected to be $5.2 billion in 2019 (down from the $14.5 Read More…