Latest News
PAYGW reminders for activity statement lodgments
The ATO will be sending certain employers a reminder to lodge their activity statements. The reminder will include the amounts the ATO has on record for them, such as: PAYG withheld amounts reported through Single Touch Payroll; and any other pre-filled amounts, including GST instalments and PAYG instalments (instalment amount option). The ATO’s reminders are […]
ATO AFCX data-matching program
The ATO will acquire relevant account and transaction data (data-matching) from the Australian Financial Crimes Exchange (‘AFCX’) for the 2025 to 2027 income years, including the following: Client identification details (names, addresses, phone numbers, dates of birth, identity verification document details, IP addresses, etc); and Bank account transaction details (bank account details, transaction date and […]
Small Business Superannuation Clearing House is closing
The Small Business Superannuation Clearing House (‘SBSCH’) will close on 1 July 2026. Editor: The SBSCH is a free online service provided by the Australian Government through the ATO. The SBSCH can be used by employers to pay superannuation for all their employees through a single payment. The SBSCH will then distribute the money to […]
Getting the main residence exemption right
The ATO has the following tips for taxpayers in relation to the CGT main residence exemption. They should consider if they have bought or disposed of property in the past income year. If they have sold property, were they using it solely as their primary place of residence, earning income from it (rental or business), […]
Bill to reduce student debt now law
Legislation has recently been enacted which delivers on the 2025/26 Federal Budget announcement to reduce student debts. Pursuant to this legislation: there is a one-off 20% reduction to Higher Education Loan Program debts and other student loans that were incurred on or before 1 June 2025; the minimum repayment threshold is increased from $54,435 in […]
ATO to include tax ‘debts on hold’ in taxpayer account balances
From August 2025, the ATO is progressively including ‘debts on hold’ in relevant taxpayer ATO account balances. Editor: A ‘debt on hold’ is an outstanding tax debt where the ATO has previously paused debt collection actions. Tax debts will generally be placed on hold where the ATO decides it is not cost effective to collect […]
Tax Office to Double Audits of ‘Dodgy’ Rental Deductions
Rental property owners are being warned to ensure their claims are correct this tax time, as the ATO has announced it will double the number of audits scrutinising rental deductions, with a specific focus on: over-claimed interest; capital works claimed as repairs; incorrect apportionment of expenses for holiday homes let out to others; and omitted […]
How Does Capital Gains Tax Work?
Capital gains tax is the tax paid on the gain of the sale of a capital asset. Capital assets such as real estate or shares, when sold, need to be declared in your tax return. The gain or loss is determined by the selling price of the asset less the purchase price. If there is […]
How to Get the Most Out of Your Day
Time Management & Self-Management is extremely important to ensure you are getting the most out of your day. Whether it be at work or home, you can apply the same principles to be your best version of YOU every day. There are a few ways you can get the most out of your day […]
New Year Goals…
With the festive season done and dusted for another year, you may find yourself motivated about getting your priorities right and looking at new year goals. If you’re working for yourself or simply just like to be organised for the end of financial year ahead, take this opportunity to de-clutter and organise that chaos! Here […]
The Work Christmas Party
It’s not quite Christmas time yet, but most businesses will be in the process of thinking ahead to the yuletide festivities, if not already into well-advanced planning. One of the perennial questions is if and how fringe benefits tax applies to these activities. There is no separate fringe benefits tax (FBT) category for Christmas parties […]
Significant change to claiming working from home expenses
Before 1 July 2022, an individual taxpayer that incurred additional deductible expenses as a result of working from home, had a choice of three methods around claiming working from home expenses. These choices were: The shortcut method – which was available from 1 March 2020 to 30 June 2022; The fixed-rate method – which was […]