by Val Tse | May 1, 2019 | Business, Single Touch Payroll
A major change in the way employers report the tax and super information for their employees to the ATO has been on the way for a while now. The single touch payroll (STP) system started to be rolled out gradually from 1 July 2018 for what the ATO refers to as...
by Val Tse | May 1, 2019 | Deduction- Home Office, Income Tax
If you produce assessable income at home, or some of it, and you incur expenses from using that home as your “office” or “workshop”, the ATO will generally allow that a taxpayer could be in a position to be able to claim some expenses and make some deductions....
by Val Tse | Apr 1, 2019 | Income Tax, Investment, Rental Income
There are times when getting a valuation becomes necessary, especially to estimate the cost of transactions that are not arm’s-length or when no actual cash changes hands. A common example of this is in respect of property, and especially for transactions when a...
by Val Tse | Apr 1, 2019 | Deduction - Travel, Income Tax, Rental Income
The ATO recently highlighted significant non-compliance with the rules prohibiting taxpayers claiming travel expenses related to residential rental properties. Late last calendar year, the ATO revealed that it had identified 26,000 taxpayers who had incorrectly...
by Val Tse | Apr 1, 2019 | GST, Income Tax
Australians have been taking full advantage of the offerings on the digital marketplace with gusto for years now, but it has only been relatively recently that the rules for goods and services tax (GST) have caught up. With the purchase of digital products such as the...
