ATO’s recordkeeping tips
Avoid penalties and reduce the possibility of expense claims being denied The ATO has reminded taxpayers that they should understand the record-keeping requirements for their business and keep accurate and Read More…
Avoid penalties and reduce the possibility of expense claims being denied The ATO has reminded taxpayers that they should understand the record-keeping requirements for their business and keep accurate and Read More…
Be aware of the expiry date when lodging BAS in order to claim any input tax credits The Administrative Appeal Tribunal (‘AAT’) has held that a taxpayer could not claim Read More…
Recordkeeping and monitoring business cash flow The ATO has stated that it has “no concerns” with business owners banking their business takings or other sales in private accounts, but that Read More…
Be aware of the tax rules surrounding ‘second-hand depreciating assets’ The ATO is reminding taxpayers that have a residential rental property, to take care when making claims for second-hand depreciating Read More…
Pandemic Leave Disaster payment In recognition of the risks associated with more infectious new Covid-19 variants through the winter period, the Federal Government has agreed to reinstate the ‘Pandemic Leave Read More…