Volunteering and tax
I’m a volunteer. Any taxing issues? From sporting clubs or environmental groups to many charity associations, volunteers are an indispensible workforce and support network for…
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Ideas for your tax refund
5 smart things to do with your tax refund For many people, their tax refund is treated like a mini lottery win. This tax time,…
Regulatory Roundup – Aug 2016
New areas and items covered by Tax Time 2016 pre-filling service The ATO advices that use of the pre-filling service will ensure that information provided…
ATO focus for 2016
Work-related deductions: What’s on the taxman’s radar? The ATO says that this year it will be paying extra attention to people whose deduction claims are…
LRBA grace period extended
SMSF trustees: Non-arm’s length LRBA grace period extended The ATO had previously held that limited recourse borrowing arrangements (LRBAs) which are not maintained on arm’s…
Novated leases explained
Wrapping a car into a salary package is a very popular choice, and doing so as part of a salary sacrifice arrangement often raises the…
Home renovations: Overlooked tax deductions for investors
Many investment property owners may be missing out on valuable property depreciation entitlements, simply by not being up-to-speed on what is and is not depreciable.…
CGT property withholding rules
Purchasers to become tax collectors on real estate post-1 July New withholding rules on the sale of property by foreign residents have been introduced –…
Taking stock for private use
The ATO knows that many business owners naturally help themselves to their trading stock and use it for their own purposes. This common practice can…