September 2017 Newsletter
Work related expense claims under scrutiny
Will you claim work-related expenses on your tax return this year? The ATO now uses real-time data to compare people’s tax returns with others in similar occupations and income...
Employee travel expense deductions
The ATO has also released new guidance on work-related travel deductions. To claim for transport or other employee travel expenses (like accommodation and...
Working holidaymakers and tax returns for 2017
If your business employs working holidaymakers – or you’ve been one yourself this year! – you need to know about the “backpacker tax” changes that came into effect from...
Small businesses with a turnover of less than $10 million can get an immediate...
Federal Court rules on PAYG avoidance
The Federal Court and Administrative Appeals Tribunal have agreed with the ATO that a business, Sunraysia Harvesting Contractors Pty Ltd, was making use of a “sham”...
Tax assessments confirmed for undisclosed business income
The Administrative Appeals Tribunal has ruled that the ATO was correct to issue tax assessments of $3.7 million and penalties of $3.3 million to a business taxpayer that...
ASIC takes action on super fund disclosures
Under Australia’s superannuation law, super funds must disclose transparency information on a website and keep it up to date at all times....
Companies should consider reporting tax liabilities: AASB
Sometimes it’s unclear how tax law applies to a company transaction or circumstance and how the ATO will treat it. New guidance from the International...