The ATO is reminding taxpayers that, due to the shift to the Single Touch Payroll system, they may not receive a payment summary directly from their employers this year as this information (income statements) will be pre-filled into their income tax return or provided to their registered agent.

The latest Self Managed Superannuation update from Bush & Campbell, including: Extension of time for SMSF tax lodgement, Re-Cap of contributions for the 2018 Financial Year, Reminder to pay pensions before 30 June 2019 and more.

Effective tax planning is something that should be considered year round and making it a priority can result in you paying less tax liability. Preparing and updating a forecast of income and outgoings can also help you and your business identify times when money may be short and plan accordingly.

Knowing what you can claim from travel allowances and expenses can be difficult as in some cases, tax deductions from an allowance are to be withheld unless specified otherwise. 

The vocational education and training (VET) sector is receiving an investment of $525 million over a five year period to equip workers with the skills they need. 

The 2019 Federal Budget focuses on building a better tax system for Australian businesses in order to create a stronger economy. 

Many property investors can access a wide range of tax deductions for their rental property and items subject to depreciation. 

Goods and services tax (GST) is applied to most goods and services sold in Australia, taxed at a rate of 10%. 

While the Budget has placed a strong focus on business and growth of the economy, the Government is also making sure to address the needs of those in the community who have faced hardships and fallen behind in recent years.

Scammers have developed a different tactic over the new year to impersonate the ATO.

The ATO often focuses on specific behaviours, characteristics and tax issues that are suspicious and can lead to investigations.

The Instant Asset Write-Off Scheme will be extended to 30 June 2020 for assets purchased under $25,000.

Tax consequences when resettling a trust arise on the transfer of property or following a loss of continuity.