by Kellyann Connell | Jun 4, 2019 | Uncategorized
Tax time: Are you in the ATO’s sights? 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...
by Kellyann Connell | Jun 4, 2019 | Uncategorized
Work related deductions Last financial year, over 8.8 million taxpayers claimed $21.98 billion in deductions for work related expenses. It’s an area under intense review by the ATO. If you claim work-related deductions, it’s important to ensure that you are able to...
by Kellyann Connell | Jun 4, 2019 | Uncategorized
Your Business There are around 3.8 million small businesses, including 1.6 million sole traders in Australia. They employ around 5.5 million people and contribute $380bn to the economy. Small business is also in debt to the ATO to the tune of $15bn. This tax time, the...
by Kellyann Connell | Jun 4, 2019 | Uncategorized
Timing of resolutions Trustees (or directors of a trustee company) need to consider and decide on the distributions they plan to make by 30 June 2019 at the latest (the trust deed may actually require this to be done earlier). Decisions made by the trustees...
by Kellyann Connell | Jun 4, 2019 | Uncategorized
Not making your full superannuation contribution? Now you can catch up This year is the first year of new measures that enable people who have been out of the work force, like new Mums, to top up their superannuation. If you have: A total superannuation balance below...
