Personal Tax Return Tips

Family Assistance Payments

By Warren Kruger / June 11, 2021 / 0 Comments

  | | | The ATO has reminded individuals receiving Child Care Subsidy and Family Tax Benefit payments from Services Australia that they and their partners must lodge their 2019/20 Individual tax returns by 30 June 2021.  Lodgement deferrals with the ATO do not alter this requirement. Services Australia needs such individuals’ income details to […]

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ATO Warns on ‘Copy/Pasting’ Claims

By Warren Kruger / June 8, 2021 / 0 Comments

  | | | 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 year’s tax returns. Assistant Commissioner Tim Loh noted that COVID-19 has changed people’s work habits, so the ATO expects their work-related expenses will reflect this. “We […]

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Cryptocurrency Under the Microscope This Tax Time

By Warren Kruger / June 1, 2021 / 0 Comments

  | | | The ATO is concerned that many taxpayers believe their cryptocurrency gains are tax-free, or only taxable when the holdings are cashed back into Australian dollars. ATO data analysis shows a dramatic increase in trading since the beginning of 2020 and has estimated that there are over 600,000 taxpayers that have invested […]

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Government Proposal to Modernise Business Communications

By Warren Kruger / May 25, 2021 / 0 Comments

  | | | The Government has committed to modernising certain laws so that they are ‘technology neutral’, to enable easier communication between businesses, individuals and regulators. The first phase of legislative reform will focus on key areas raised by stakeholders which are implementation-ready (ideally by the end of 2021), including: expanding the range of […]

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Passenger Movement Data-Matching Program

By Warren Kruger / May 4, 2021 / 0 Comments

  | | | The ATO will access data from the Department of Home Affairs on passenger movements during the 2016/17 to 2022/23 financial years, and match it with certain sections of ATO data holdings to identify taxpayers that can be provided with tailored information to help them meet their tax and superannuation obligations, or […]

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Shortcut Rate For Claiming Home Office Expenses Extended

By Warren Kruger / February 16, 2021 / 0 Comments

  | | | The ATO has extended (again) the ability to utilise the “shortcut rate” for claiming home office running expenses to 30 June 2021 (it previously only applied until 31 December 2020). The ATO’s guideline allows certain taxpayers to claim a fixed rate per hour (80 cents per hour) for most additional running […]

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