Insights

The main residence exemption allows your main residence to be fully or partially exempt from capital gains tax, meaning you are not taxable on any gains or losses that arise from the sale of your main residence. You can

As in previous years the ATO will close during the Christmas-New Year period. This means the ATO will suspend their return and form processing from 11.00pm EDT Friday 25 December 2015 to 7.00am EDT Monday 4 January 2016.

SuperStream has now started for small businesses. If your business has 19 or fewer employees, it’s time to get ready. SuperStream is making super contributions super simple. It changes the way you pay super for your em

Did you know- if you have linked the ATO to your myGov account, the majority of your ATO mail will be sent directly to your myGov Inbox? The types of ATO mail you may receive in your myGov Inbox include: – Notices

The ATO has recently released guidelines on claiming telephone and internet expenses. These are summarised below. There are some rates set out for incidental use and using these rates if taxpayers claims are under $50 th

It was interesting to note unpaid taxes increased by 35% between 2010 to 2014. The ATO would rival the top 4 banks as lenders to small business. The ATO are stepping up their focus on debt recovery as evidenced by the in

Investment Property Depreciation and Capital Allowances. Maximise your depreciation claim of all the tax deductions available to property investors. Depreciation is the most often missed since investors do not need to sp

Reducing Information Overload The 21st century will be known for constant change and an abundance of data and information! The rate Information is sent has increased so much, that we’re adopting the ‘Omission’ conc

By now trustees should have received the trust distribution minutes for 2015. The trust distribution minutes determine the allocation of the trust’s net income to its beneficiaries for the relevant financial year. Thes

If, during the 2014 financial year, you made concessional contributions to your superannuation fund in excess of your concessional contributions cap you will receive an amended taxation assessment from the ATO. These exc