The documents you need at Tax Time to maximise your Tax Refund. “Preparation is the key to you achieving the best tax refund legally possible, and ensuring you’re covered should the ATO ask to review your tax return” – Corinne Cole, Co-founder of Platinum Accounting & Taxation As the financial year comes to…
The ATO has announced its focus on the scrutiny of 2019 tax returns, particularly those with rental property tax deductions. It’s fair to say that the ATO’s decision to increase audit activity of rental property deductions has come about with justification. A random sample of tax returns, which included rental property tax deductions, revealed that…
Will your business be denied this tax deduction? Non-compliance with the new PAYG Withholding rules could cost your business thousands in income tax. Are you a business owner with employees or contractors? You need to be aware that new PAYG withholding rules are now in place to deny tax deductions for salary and wages…
Single Touch Payroll has now extended to all employers. Is your business ready? For a couple of years now, there has been a great deal of talk about Single Touch Payroll (STP). Single Touch Payroll was introduced on 1st July 2018 for all businesses with 20 or more employees. However, the law was recently…
Perhaps you’re looking to buy your first home, or you already have one or more mortgages. You may be seeking a commercial loan or equipment finance. No matter your finance needs, we’ll outline the key benefits of using the services of a Mortgage Broker versus dealing directly with a bank. Did you know that…
The Australian Taxation Office (ATO) has announced a new data-matching program targeting taxpayers earning income from the exploding popularity of short-term rentals available on platforms like AirBNB and Stayz. Utilising information from online platform sharing sites matched to information from financial institutions, the ATO is targeting 190,000 individuals to make sure they have not…
The Government has moved to put an end to ‘eternal students’ who constantly study and never earn an income and speed up the payment cycle for those with outstanding debt. New lifetime caps on Higher Education Loan Program (HELP) debt will prevent people from constantly going to University without converting that study into a…
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