Telstra’s 2014 share buy-back: its impact on 2014-15 tax returns
Telstra’s 2014 share buy-back: its impact on 2014-15 tax returns
Telstra’s 2014 share buy-back: its impact on 2014-15 tax returns
Telstra’s 2014 share buy-back: its impact on 2014-15 tax returns
Single Touch Payroll put on back burner
Single Touch Payroll put on back burner
Single Touch Payroll put on back burner
Single Touch Payroll put on back burner
ATO increases focus on rental property deductions
ATO increases focus on rental property deductions
ATO increases focus on rental property deductions
ATO increases focus on rental property deductions
Get set for a 2.5% wage increase
Get set for a 2.5% wage increase
Get set for a 2.5% wage increase
Get set for a 2.5% wage increase
Work-related car expense claims simplified
Work-related car expense claims simplified
Work-related car expense claims simplified
Work-related car expense claims simplified
Don’t forget: $20,000 write-off = ‘small business’ = less than $2 million ‘aggregated turnover’
Don’t forget: $20,000 write-off = ‘small business’ = less than $2 million ‘aggregated turnover’
Don’t forget: $20,000 write-off = ‘small business’ = less than $2 million ‘aggregated turnover’
Don’t forget: $20,000 write-off = ‘small business’ = less than $2 million ‘aggregated turnover’
Contractor Payments Data Matching Program
Contractor Payments Data Matching Program
Contractor Payments Data Matching Program
Contractor Payments Data Matching Program
10 technology mistakes small businesses often make (and how to avoid them)
10 technology mistakes small businesses often make (and how to avoid them)
10 technology mistakes small businesses often make (and how to avoid them)
10 technology mistakes small businesses often make (and how to avoid them)
Federal Budget 2015: Individuals
Federal Budget 2015: Individuals
Federal Budget 2015: Individuals
Federal Budget 2015: Individuals
Federal Budget 2015: Families
Federal Budget 2015: Families
Federal Budget 2015: Families
Federal Budget 2015: Families
Builders note: Change to your 'taxable payments annual report' lodgement
Builders note: Change to your 'taxable payments annual report' lodgement
Builders note: Change to your 'taxable payments annual report' lodgement
Builders note: Change to your 'taxable payments annual report' lodgement
INFOGRAPHIC: The budget winners and losers
INFOGRAPHIC: The budget winners and losers
INFOGRAPHIC: The budget winners and losers
INFOGRAPHIC: The budget winners and losers
Tax Office small business benchmarks have just been updated
Tax Office small business benchmarks have just been updated
Tax Office small business benchmarks have just been updated
Tax Office small business benchmarks have just been updated
Tax Office Super Crackdown
Tax Office Super Crackdown
Tax Office Super Crackdown
Tax Office Super Crackdown
No Play and No Pay for Conscientious Vaccine Objectors
No Play and No Pay for Conscientious Vaccine Objectors
No Play and No Pay for Conscientious Vaccine Objectors
No Play and No Pay for Conscientious Vaccine Objectors
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Telstra’s 2014 share buy-back: its impact on 2014-15 tax returns

telstra share buy-back

In 2014, Telstra announced that it would undertake an off-market share buy-back, with the buy-back results announced on October 6, 2014. The Tax Office says participating shareholders are taken to have disposed of their shares accepted under the Telstra buy-back at that date (CGT event A1). It has released a fact sheet giving advice for Australian […]

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ATO increases focus on rental property deductions

Rental-deductions

The ATO will have an increased focus on rental property deductions this tax time and is encouraging rental owners to double-check their claims are correct before lodging their tax return. In particular, the ATO is paying close attention to: excessive deductions claimed for holiday homes, husbands and wives splitting rental income and deductions for jointly […]

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Work-related car expense claims simplified

self-driving-car

The federal budget has confirmed a foreshadowed change to the way work-related car expense deductions are calculated. Work-related expenses are the most common-claimed tax deductions, with the Tax Office reporting that around seven million Australians make such claims in any tax year – with one of the most common components being car expenses, with nearly […]

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Contractor Payments Data Matching Program

building-industry

The Australian Taxation Office (ATO) will continue to acquire details of entities that receive contractor payments from other businesses for the 2013-14, 2014-15 and 2015-16 financial years. This is the continuation of an ongoing program where data will be obtained from businesses that are subject to compliance activities conducted by the employer obligations area within […]

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Federal Budget 2015: Individuals

laptopman-780

There were few notable budget impacts for personal taxation. However, a couple of items are worth mentioning: Personal tax rates Personal tax rates will not change, and the 2% Temporary Budget Deficit Levy for taxable incomes over $180,000 will not be extended. The levy will, as expected, cease at the end of the 2016-17 income […]

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How highly taxed are we compared to other countries?

Australia is the fifth-lowest taxed nation

While many of us may feel that we’re already paying enough to the taxman, recent Organisation for Economic Co-operation and Development (OECD) data reveals that Australia is in fact the fifth-lowest taxed nation of the 34 OECD member countries. (Statistics are taken from 2012 or the latest available year.) Australian total tax revenue was measured […]

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Act Now To Secure These Business Deductions

deadline-clock-700x465

Small businesses may want to act now and bring forward their capital purchases if they still wish to utilise the instant asset write-off of $6,500 or the $5,000 motor vehicle write-off in 2013-14. The details of the government’s repeal of the Minerals Resource Rent Tax (MRRT) make it clear that some small business tax concessions […]

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Tax help for people affected by bushfires

Wildfire-iStock

The ATO have said that refunds will be fast tracked for people directly affected by bushfires and they will have additional time to lodge income tax returns and activity statements. “You do not need to apply for a deferral or a faster refund if your business or residential address is in one of the identified […]

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Increase in Medicare levy to affect other tax rates

medicare

By now, most of you will be aware of the government’s decision to increase the Medicare levy by 0.5% to fund Australia’s DisabilityCare program. From July 1, 2014, the Medicare levy will increase from 1.5% to 2% of taxable income. What many people may not realise however is that the Medicare levy increase will cause […]

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Private Health Insurance Tax Return Changes [Video]

private-health-insurance-featured

From the 2012–13 financial year (so for your current tax return), the private health insurance rebate is being income tested against three income tier thresholds. This means if you have private health insurance, the amount of rebate you will be entitled to receive is reduced if your income is more than certain threshold income amounts […]