Personal Tax Return Tips

ATO Watching for Foreign Income This Tax Time

By Warren Kruger / September 18, 2019 / 0 Comments

  | | | The ATO is urging taxpayers who receive any foreign income from investments, family members or working overseas to make sure they report it this tax time. New international data sharing agreements allow the ATO to track money across borders and identify individuals not meeting their obligations. “This year, the ATO has […]

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“Outrageous” Deductions Rejected

By Warren Kruger / September 7, 2019 / 0 Comments

  | | | The ATO has published some of the most unusual claims that they disallowed last financial year. Nearly 700,000 taxpayers claimed almost $2 billion of ‘other’ expenses, but the ATO’s systematic review of claims had found, and disallowed, some very unusual expenses, including: claims for Lego sets bought as gifts for children, […]

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ATO Data Matching Program: HELP, VSL And/Or TSL Debts

By Warren Kruger / August 19, 2019 / 0 Comments

| | | The ATO is conducting a data matching program for the 2019/20, 2020/21 and 2021/22 financial years to identify individuals with an existing Higher Education Loan Program (‘HELP’), Vocational Education and Training Student Loan (‘VSL’) and/ or Trade Support Loans (‘TSL’) debt who may not be meeting their registration, lodgment and/or payment obligations. […]

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Private Health Insurance Statements Now Optional

By Warren Kruger / August 9, 2019 / 0 Comments

  | | | Taxpayers with private health insurance should be aware that insurance providers are no longer required to provide statements to their members. Taxpayers lodging their tax returns using a registered tax agent should have their health insurance details ‘pre-filled’ into their return (but they will need to contact their health insurer if […]

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ATO “Puts The Brakes” On Dodgy Car Claims

By Warren Kruger / August 5, 2019 / 0 Comments

  | | | The ATO is making work-related car expenses a key focus again during Tax Time 2019. Assistant Commissioner Karen Foat said over 3.6 million people made a work-related car expense claim in 2017/18, totalling more than $7.2 billion. “We are still concerned that some taxpayers aren’t getting the message that over-claiming will […]

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Tax Cuts Become Law

By Warren Kruger / August 2, 2019 / 0 Comments

  | | | The Government has announced that more than 10 million Australians will receive immediate tax relief following the passage of legislation through the Parliament, which increases the top threshold for the 19% tax rate from $41,000 to $45,000 and increases the low income tax offset from $645 to $700 in 2022/23. In […]

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