The ATO is focusing on work related expenses, rental properties and failing to include all income on your income tax return this tax time.[…] CONTINUE READING
With the end of the 2023/24 financial year fast approaching, it is again time to consider the rules concerning contributions made to your self managed funds or other superannuation funds for this year. Following are some guidelines regarding current rules and ATO requirements. […] CONTINUE READING
The ATO has received a large number of reports of scammers using fake myGov sites to steal myGov sign-in details, which can be used to commit tax and refund fraud in other people’s names. These criminals will often use text message or email to lure people into clicking a link using phrases such as ‘You […]
Taxpayers who have been working from home this financial year, and who consequently incurred work-related expenses, have two ways to calculate their work from home deduction: the actual cost method or the fixed rate method. Taxpayers need to have the right records, and the record-keeping requirements differ for the fixed rate method and the actual […]
