Latest News
ATO warns about barter credit tax scheme
The ATO is warning the community to steer clear of an emerging tax scheme involving barter credits — a type of alternative currency used in some business networks. A tax scheme that involves artificially inflating deductions for donations of barter credits to deductible gift recipients (‘DGRs’) is on the rise. While it may seem enticing, […]
ATO’s new approach to holiday home expenses
The ATO has announced that it will take a somewhat different approach in relation to holiday home expenses that are claimed in relation to holiday homes. Broadly, the ATO now takes the view that, if a taxpayer’s rental property is also their holiday home, certain deductions relating to holding it will be completely denied (rather […]
Australians call out tax dodgers in record numbers
The ATO has hit a major milestone of over 300,000 tip-offs from the community about tax dodgers and other dishonest behaviours since 1 July 2019. In the 2024/25 financial year alone, almost 50,000 red flags were raised by members of the community who spotted something suspicious. Most of the tip-offs received related to shadow economy […]
Dental expenses are private expenses
The ATO has been seeing a number of deduction claims for dental expenses this tax time. Dental expenses are private expenses, including preventative and necessary dental treatment, medical expenses and other costs relating to client’s personal appearance (such as teeth whitening, makeup, skin care, shaving products and haircuts) are not deductible. These expenses are generally […]
Reminder of December 2025 Quarter Superannuation Guarantee (‘SG’)
As noted in the previous article, employee December 2025 Quarter Superannuation Guarantee must be received by the relevant super funds by 28 January 2026. If the correct amount of SG is not paid by an employer on time, they will be liable to pay the SG charge, which includes a penalty and interest component. […]
Alternative providers to the SBSCH
Employers should start preparing for the permanent closure of the Small Business Superannuation Clearing House (‘SBSCH’) on 1 July 2026. By acting now to find an alternative service, employers will: have an established process in place to pay super guarantee (‘SG’) for the March and June quarters (if they currently pay quarterly); reduce the risk […]
Disaster Planning
Q: I have great sympathy for the businesses which were battered by the floods, fires and cyclones in Australia this year. These things can happen to anyone, any time. What should I do to make my business disaster-proof? A: Identify which data and applications are critical to your business, then ensure you have them backed […]
Reward program benefits can be tax-free
Many companies, or even whole industries, offer their customers loyalty award-based incentives programs. These programs, such as the “Frequent Flyer” and “Fly Buys” schemes, are designed to reward customers for purchasing or using a company’s goods and services (or indeed, those of its affiliates). As a result of one particular court case, the Tax Office […]
What Is The Medicare Levy Surcharge
What is the Medicare levy surcharge and what is it for? The Medicare levy surcharge (MLS) is designed to reduce the demand on the public Medicare system. You will be required to pay the MLS if your income for MLS purposes is above the base income threshold and you or your family do not have […]
Identity theft crime & protecting your personal information
Identity theft crime happens when someone uses a stolen, manipulated, or assumed identity to commit fraud or other crimes. It can involve creating a new identity, false identity, or using stolen information to impersonate someone else. Identity Theft Crime and You Criminals can start using your identity with some basic details, such as your name, […]
Investing Overseas
As an Australian resident, you are taxed on your worldwide income, including your income from: offshore bank accounts interests in foreign entities rental income from overseas property capital gains on overseas assets. You must declare all overseas income from these sources in your Australian tax return. If you have paid tax on any of this […]
Are you an Australian resident for tax purposes?
Generally, the Australian tax office consider you to be an Australian resident for tax purposes if you: Have always lived in Australia or have come to Australia to live Have been in Australia for more than half of the income year (unless your usual home is overseas and you don’t intend to live in Australia […]