The ATO will carry on with its bulk ABN cancellation program in a bid to stamp out inactive ABNs, as the government continues to mull reforming the system.
You’ve heard people talk about cash versus accrual accounting, but what is it all about? And why does accrual get all the glory? We take you through the basics.
Expenses you can claim If you’re an employee who regularly works from home, you may be able to claim a deduction for expenses relating to that work. These are generally home office running expenses, and phone and internet expenses. In limited circumstances you may also… Read More >>
Tax and the enterprise of renting, hiring or sharing their car, caravan or RV sharing If you rent, hire or share your car, caravan or recreational vehicle (RV) through a sharing economy platform, you: must declare the income in your tax return may need to pay… Read More >>
Tax season is underway To help Australians get their returns right, the ATO has identified the top 10 tax myths and misunderstandings it says are causing incorrect claims. Assistant Commissioner Kath Anderson says unreliable tax advice is leaving taxpayers exposed. Top of the list is the… Read More >>
How to use EOFY to set yourself up for success Each end of financial year ‘EOFY’ is the highlight of the year (at least it is to us) It’s the green light for business owners to run the rule over their business and set up… Read More >>
ATO driven to scrutinise car claims this tax time The Australian Taxation Office (ATO) has announced that it will be closely examining claims for work-related car expenses this tax time as part of a broader focus on work related expenses. Assistant Commissioner Kath Anderson said… Read More >>
Grasp the opportunity to save tax BEFORE 30 June With the end of financial year (EOFY) approaching quickly, NOW is the time to discuss with us the actions you can take before 30 June to reduce your tax and grow your wealth. For 2018, key… Read More >>
Considering retirement and starting to plan the rest of your life? There are some important decisions you need to make. When you see your OBT financial adviser, you might be surprised to find we’re not always financial. These are some questions you might need to… Read More >>
Self-employed? What would you do if you became sick or injured and were unable to keep your business running? It’s not a risk that is often thought about, but it is important to take a moment to consider it. Did you know that 1 in… Read More >>