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Home-owners should consider the wider taxation implications of renting the family home before taking a short-term benefit.

Over $7.2 billion in work-related car expenses claimed last year have placed the popular deduction firmly in the headlights of the ATO this tax time.

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The Tax Office has confirmed that the majority of “tip-offs” it receives about possible tax avoidance are related to business, amid concerns competitors may play dirty by “dobbing in” innocent businesses.

Again, the answer to a tax question is “it all depends”.

Tax agents have been urged to apply “an extra bit of thought and extra care” into handling clients’ claims this tax time as ATO scrutiny mounts.

Ahead of the 1 July deadline for small business to be compliant with the new Single Touch Payroll (STP) regime, the ATO and professionals alike have cleared up some common points of confusion about associated AUSkey and myGov requirements.

           Some businesses are making simple mistakes reporting their GST. Common GST reporting errors are: transposition and calculation errors – these mistakes often happen when manually

With property markets taking a tumble in recent times, some SMSF clients may need to review the loan arrangements and guarantees they have, particularly where the loan-to-value ratio has significantly dropped, says an industry lawyer.

Valuations of Victorian properties are now undertaken annually instead of every two years.

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            The ATO expects that 200,000 people could miss out on a tax refund this year because they haven’t lodged a tax return. Many salary