ATO

How to handle your tax returns efficiently this year?

With the advent of the global pandemic, COVID-19’s impact, each country’s economy is going through loads of ups and downs. Each person is facing drawbacks of recession differently. Hence, this tax season, because of COVID-19, Australians are advised not to accept the increased Flat Rates. Already, the Australian Tax Office (ATO) has simplified the claim […]

29 Jun, 20

Top 5 Mistakes That People Make On Tax Returns- You Should Avoid

The end of the financial year is on the way! Hence loads of questions might be thriving inside you. Especially, after COVID-19 restrictions, what changes have been made in tax, is undoubtedly a critical point to note. Already, the Australian Tax Office has brought loads of changes to make things easier. But that doesn’t mean […]

17 Jun, 20

Home office expenses

Source: https://www.ato.gov.au/ If you’re an employee who works from home, you may be able to claim a deduction for expenses you incur relating to that work. These can be additional running expenses such as electricity, the decline in value of equipment or furniture and phone and internet expenses. If your home is your principal place […]

17 Jun, 20

Accessing your income statement or payment summary

Source: https://www.ato.gov.au/ How you get your end of financial year information from your employer showing your earnings for the year (also known as an income statement or payment summary) depends on how your employer reports your income, tax and super information to us. You will be provided with either: an income statement – if your […]

17 Jun, 20

Claiming mobile phone, internet and home phone expenses

Source: https://www.ato.gov.au/ If you use your own phone or internet for work purposes, you may be able to claim a deduction if all of the following conditions apply: you spent the money yourself the expense is directly related to earning your income you must have a record to prove it. You can’t claim a deduction […]

17 Jun, 20

Tax tips: How the coronavirus can help you get a larger refund

Source: https://thenewdaily.com.au/ The coronavirus pandemic has shifted the way we conduct our personal finances, and with June creeping up, tax time is no exception. Strict social distancing measures have forced millions of Australians to work from home for the first time, throwing up a raft of new deductions. Mozo.com.au consumer advocate Tom Godfrey told The New […]

28 Apr, 20

Employers’ frequently asked JobKeeper questions

Source: https://www.ato.gov.au/ General Question: What’s the difference between JobKeeper and JobSeeker? Answer: The JobKeeper scheme supports businesses to retain their employees by contributing to their salary and wages and is administered by the ATO. Eligible businesses are required to register with the ATO to receive these payments for their eligible employees. JobSeeker payments are a form of […]

20 Apr, 20

ATO tax return: Tax Office reveals new working from home expenses rules

Source : https://www.news.com.au/ The tax office has announced special arrangements this year – and it affects everyone working from home due to the coronavirus crisis. The Australian Taxation Office has made a major change this year as a result of the ongoing COVID-19 pandemic. With countless Australians now working form home in a bid to […]

ATO Tax incentives in response to COVID-19

Article 1 Instant asset write-off increased For new or second-hand assets first used or installed ready for use from 12 March until 30 June 2020, the instant asset write-off threshold will be increased from $30,000 to $150,000 for businesses with aggregated annual turnover of less than $500 million (up from the current $50 million threshold). […]

10 Sep, 19

Remote area tax concessions and payments should be overhauled

The Productivity Commission has called for significant reforms to the tax concessions and payments for residents and businesses in remote Australia as they are “outdated, inequitable and poorly designed”. Its draft report assessed the zone tax offset (ZTO), the remote area allowance (RAA) and the fringe benefits tax (FBT) remote area concessions. The Commission recommended the abolition […]

How to handle your tax returns efficiently this year?

Top 5 Mistakes That People Make On Tax Returns- You Should Avoid

Home office expenses

Accessing your income statement or payment summary

Claiming mobile phone, internet and home phone expenses

Tax tips: How the coronavirus can help you get a larger refund

Employers’ frequently asked JobKeeper questions

ATO tax return: Tax Office reveals new working from home expenses rules

ATO Tax incentives in response to COVID-19

Remote area tax concessions and payments should be overhauled

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