Tax
5 advantages of home ownership
24 August
Your decision to purchase a new house is a significant life event, and the thought of becoming a homeowner might be a little intimidating. However, homeownership brings with it several advantages, including the freedom to design your home as you...[Read More]
Economic agenda big enough without more tax reform
23 August
The Albanese government has ruled out further tax reform this term as it seeks to bed down a raft of changes to improve the economy. The Business Council this week called for “comprehensive tax reform”, saying the government would not be able to...[Read More]
ATO Scam advice – tax time SMS and email scams
23 August
Be wary of emails, phone calls and text messages claiming to be from the ATO. If you think a phone call, SMS, voicemail, email or interaction on social media claiming to be from the ATO is not genuine, do not engage with it. You should...[Read More]
Sweet tooth tax could cure hip pocket pain: dentists
16 August
A tax on sugary drinks would reduce their consumption and help fund targeted schemes to improve oral care for vulnerable Australians, the dental association says. In its submission to a parliamentary inquiry examining access to dental services in...[Read More]
Tax loopholes are ‘stealing from next generation’
16 August
Tax loopholes that benefit multinational companies in Australia are “stealing from the next generation”, prominent unions have warned. The Community and Public Sector Union told a parliamentary inquiry into multinational tax avoidance that many...[Read More]
Records you need to keep for tax purposes
9 August
Records you need to show a payment or expense, the format to keep your records in, and how long to keep them. What is a record? Records are written evidence of your income or expenses, these can be either paper or electronic. You need to keep...[Read More]
Up to 250,000 workers could get electric car discount
9 August
As many as 250,000 Australian workers could unlock significant electric vehicle discounts after a change to small business software that will automate car leases. The change, from accounting platform MYOB, could help more than 100,000 businesses...[Read More]
Working from home expenses, what can I claim and how do I claim it?
2 August
Deductions for expenses you incur to work from home such as stationery, energy and office equipment. Eligibility to claim To claim working from home expenses, you must: be working from home to fulfil your employment duties, not just carrying out...[Read More]
Bitter news for beer lovers as tax hits pints and kegs
2 August
Beer drinkers are being warned to brace for more expensive pints as the industry is hit with another tax increase. Alcohol prices are not exempt from rising costs of living and the tax is adjusted twice a year in line with inflation. The latest...[Read More]
Union wants super profits tax to pay for social housing
26 July
One of Australia’s most powerful unions wants a tax to be slapped on big businesses to pay for social and affordable housing. The CFMEU has called for a super profits tax to bankroll construction and solve the country’s housing crisis. National...[Read More]
Why you may receive a tax bill
26 July
Common reasons you may receive a tax bill and action you can take to avoid a tax bill next income year. Your tax assessment The statement we issue that explains how your tax assessment is calculated is your notice of assessment (NOA). Your NOA...[Read More]
Changes to small business deductions this tax time
19 July
If you’re a small business owner who operates from home or you use a vehicle for business purposes, you need to be aware of some changes when claiming deductions this tax time. Cents per kilometre method The cents per kilometre method for...[Read More]
Super guarantee contributions due by 28 July
12 July
Remember, super guarantee (SG) contributions for your eligible employees are due by 28 July. Follow Ricky’s story below to learn more about your obligations as an employer. Ricky operates a florist where he hires multiple employees to help manage...[Read More]
Victorians to pay the country’s most property taxes
12 July
Victorians are poised to be slugged with the most property tax in the country this year and beyond but NSW won’t be too far behind. A Victorian Parliamentary Budget Office report has revealed Victoria and NSW’s heavy reliance on property taxes,...[Read More]
Amounts you do not include as income in your tax return
5 July
You may receive money that you don’t need to include as assessable income in your tax return. You may still need to report these amounts so we can work out your tax losses or eligibility for tax offsets or benefits. Amounts you don’t include as...[Read More]