Latest News

Latest News

ATO Focus This Tax Time

By Warren Kruger | June 25, 2022

The ATO has announced four key areas that it will be focusing on for Tax Time 2022: Record-keeping. Work-related expenses. Rental property income and deductions. Capital gains from crypto assets, property, and shares. Before claiming income tax deductions for their expenses, taxpayers must ensure: they spent the money themselves and were not reimbursed; if an […]

Avoid Double Dipping On Your Tax Deductions

By Warren Kruger | June 21, 2022

Taxpayers are reminded not to make the mistake of ‘double dipping’ on tax deductions (that is, claiming expenses twice) in their tax return this year. Some of the ‘double dipping’ mistakes commonly made relate to the following deductions: Working From Home Expenses A common mistake involves using the ‘shortcut method’ to claim working from home […]

Get Ready For Super Changes From 1 July 2022

By Warren Kruger | June 14, 2022

As the new financial year approaches, employers need to be aware of two important super changes. From 1 July 2022, employees can be eligible for super guarantee (‘SG’), regardless of how much they earn, because the $450 per month eligibility threshold for when SG is paid has been removed. Employers only need to pay super […]

ATO To Start Clearing Backlog Of ENCC Release Authorities

By Warren Kruger | June 11, 2022

Due to “unavoidable delays caused by improvements to” its systems, the ATO will start issuing requests to release excess contributions and other charges for individuals who did not make an election on the tax treatment of their excess non-concessional contributions (‘ENCC’) for prior financial years. This may result in a higher than normal number of […]

ATO Warns About GST Fraud

By Warren Kruger | June 7, 2022

Taxpayers are being warned to be on the lookout for dodgy online ads, often on social media platforms, promising easy GST refunds. The ATO recently issued a media release about large-scale GST fraud attempts exceeding $850 million, that involve customers setting up an ABN without operating a business, and then submitting fictitious BAS statements to […]

Employers Need To Prepare For Changes Under Single Touch Payroll Phase 2 Expansion

By Warren Kruger | June 1, 2022

Single Touch Payroll (‘STP’) reporting has been expanded. This expansion, known as ‘STP Phase 2’, means that employers will need to start reporting extra information to the ATO each time they run their payroll. Some digital service providers (‘DSPs’) needed more time to update their products and applied for deferrals, which cover their customers – […]

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What’s New For Taxpayers

By Warren Kruger | August 19, 2015

Before you complete your tax return for 2015, there are some changes you should be aware of in case they affect you. Mature age worker tax offset You can no longer claim the Mature age worker tax offset (MAWTO) in your tax return. Previously, to be eligible for the offset you needed to be an […]

Travel between home and work and between workplaces

By Warren Kruger | September 2, 2015

While trips between home and work are generally considered private travel, you can claim deductions in some circumstances, as well as for some travel between two workplaces. If your travel was partly private and partly for work, you can only claim for the part related to your work.   What you can claim You can […]

Investment Property – Claiming Repairs and Maintenance Expenses

By Warren Kruger | September 9, 2015

Can you claim the cost of repairs you make before you rent out the property? You cannot claim the cost of repairing defects, damage or deterioration that existed when you obtained the property, even if you carried out these repairs to make the property suitable for renting. This is because these expenses relate to the […]

Gifts and donations

By Warren Kruger | November 4, 2015

You can only claim a tax deduction for gifts or donations to organisations that have the status of deductible gift recipients (DGRs).   Deductions for gifts are claimed by the person that makes the gift (the donor).   For you to claim a tax deduction for a gift, it must meet four conditions: The gift […]

Capital gains tax checklist

By Warren Kruger | November 11, 2015

  The following questions will help you to identify possible capital gains tax (CGT) obligations. If you answer ‘yes’ to any of these questions, CGT may apply. Some questions are intended to highlight the possibility of a capital gain or loss arising in the current year, others to alert you to the possibility of a […]

Tax on Super Contributions

By Warren Kruger | December 16, 2015

The tax you pay on your super contributions generally depends on whether the contributions were made before or after you paid income tax, you exceed the super contributions cap or you are a very high-income earner. Before-tax super contributions The super contributions you make before tax (concessional) are taxed at 15%. Types of before-tax contributions […]

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