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…
Extension on Division 7A loan repayments
Extension of time to make repayments on Division 7A loans To offer more support due to the ongoing effects of COVID-19, an extension of the repayment period is now available. 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…