The Australian Taxation Office (ATO) has released a tax time toolkit to help small businesses and their tax professionals nail their income tax returns. It has also flagged what it will be focussing on for small business tax returns for 2021-22: Deductions that are private in nature and not relatedRead More →
To fight the rising Cybercrime in Australia, the Australian Taxation Office (ATO) and the Tax Practitioners Board (TPB) have developed new guidelines on client identity verification. These guidelines will also help improve security to stop criminals from committing tax fraud by stealing taxpayer identities. “We are increasingly concerned that criminalsRead More →
The Australian Taxation Office (ATO) is guiding first-time lodgers on some simple things they can do right now to make lodgment quick, secure and easy at tax time. “Tax may seem daunting, but it doesn’t need to be,” Assistant Commissioner Tim Loh said. “There’s a lot of information out thereRead More →
The Australian Taxation Office (ATO) is alerting taxpayers that its sights are set on work-related expenses like car and travel claims that are predicted to decrease in this year’s tax returns. Overall, around 8.5 million Australians claimed nearly $19.4 billion in work-related expenses in their 2020 tax returns. Assistant CommissionerRead More →