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 […]
Payment Extension Relating To Jobkeeper Objections
The JobKeeper rules have been amended to ensure the ATO can make payments to certain taxpayers after 31 March 2022. Where a taxpayer has objected to an ATO decision relating to JobKeeper, a payment can be made by the ATO after 31 March 2022 to give effect to the objection decision and decisions of the […]
Single Touch Payroll Exemption Extended For WPN Holders
The ATO has extended the Single Touch Payroll (‘STP’) reporting exemption available to entities that have a withholding payer number (‘WPN’). As a result of this extension, certain entities that have a WPN (but not an ABN) will not be required to report under STP for the 2021‑22 and 2022-23 financial years. This continues the […]
Higher PAYG Withholding Rates Continue to Apply To Backpackers
As we recently communicated, the High Court has held that the ‘working holiday maker tax’ (also known as the ‘backpackers’ tax’) did not apply to a taxpayer on a working holiday visa from the United Kingdom who was also an Australian tax resident. This was due to the application of the Double Tax Agreement between […]
COVID-19 Vaccination Incentives And Rewards
The ATO has reminded employers to consider their tax and super obligations when employees are provided with incentives or rewards for getting their COVID-19 vaccination. When employees are provided a cash payment, including paid leave for employees to get their COVID-19 vaccination (or additional paid leave to recover from any vaccination side effects), employers should […]
Government Extends SME Recovery Loan Scheme To 30 June 2022
The Government has recently extended the SME Recovery Loan Scheme by a further six months (to 30 June 2022) to support SMEs adversely economically affected by the Coronavirus Pandemic. Under the Scheme, eligible businesses can obtain loans through participating bank and non-bank lenders with the backing of a government loan guarantee. Around 80,000 loans worth […]
AUSTRAC Transaction Report Information Data-Matching Program
| | | The ATO will acquire transaction report information data from AUSTRAC for the period of 17 June 2021 through to 30 June 2027. AUSTRAC (the Australian Transaction Reports and Analysis Centre) is the Australian Government agency responsible for “detecting, deterring and disrupting criminal abuse of the financial system to protect the community from […]