by epoch | Jun 5, 2019 | eNews
The Tax Office is actively targeting geographic areas for special visits as part of a nationwide crackdown on the black economy. This financial year, the ATO has visited 22 regions with another four in progress. Next financial year they plan on visiting over 10,000...
by epoch | Jun 5, 2019 | eNews
A consistent theme this tax time is overclaiming and under reporting. With the Australian Taxation Office (ATO) getting more and more sophisticated in its data matching approaches, taxpayers can expect greater scrutiny where their claims are more than what is...
by epoch | May 1, 2019 | eNews
In the 2017-18 financial year, more than 2.2 million Australians claimed over $47 billon in deductions and the Australian Taxation Office (ATO) thinks that is too much – one in ten is estimated to contain errors. 4,500 audits of rental property deductions will...
by epoch | May 1, 2019 | eNews
Tax on investment property In general, taxpayers are able to deduct from their assessible income any expenses they incur generating or producing that income. An investment is negatively geared when the cost of owning the asset is more than the return. Negative...
by epoch | May 1, 2019 | eNews
The Federal Budget announced a series of measures, some of which were legislated before the election was called. Extension and increase to the instant asset write-off The popular instant asset write-off for small business has been extended and increased. The new laws:...
