Auswild & Broad | Blog

The end of the financial year is fast approaching. We outline the areas at risk of increased ATO scrutiny and the opportunities to maximise your deductions.

The ATO has warned that it is looking closely at how trusts distribute income and to who.

On 15 March 2024, the ATO's Small Business Super Clearing House ('SBSCH') will roll out SMSF bank account validation.

Businesses that pay contractors to provide certain services may need to lodge a TaxablePayments Annual Report (TPAR) by 28 August each year.

The revised stage 3 tax cuts have passed Parliament and will come into effect on 1 July 2024.

Late last year, thousands of taxpayers and their agents were advised by the Australian Taxation Office (ATO) that they had an outstanding historical tax debt. The only problem was, many had no idea that the tax debt existed.

The personal income tax cuts legislated to commence on 1 July 2024 will be realigned and redistributed under a proposal released by the Federal Government.

Here’s our quick guide to the tax impact of Christmas celebrations. The information is for GST registered businesses that are not using the 50-50 split method for meal entertainment.

The ATO estimates that incorrect reporting of rental property income and expenses is costing around $1 billion each year in forgone tax revenue.

The Australian Taxation Office have released a new draft ruling on self-education expenses. We revisit the deductibility of self-education expenses and what you can and can’t claim.