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261 Popular tax deduction in ATO’s sights ...: One of the most commonly used tax deductions is getting special attention from the ATO this year, as millions of Australians claim right up to the receipt-free threshold. The tax office said it will ...; 28 August 2017 in Sales
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262 SMEs warned to check tax adviser’s registration ...: Business owners are being warned to ensure their tax agent is properly registered, after a staggering number of advisers failed to renew their registration last month. Ian Taylor, chair of the Tax ...; 24 August 2017 in Sales
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263 Mining giant settles on $340m tax bill ...: A mining and energy multinational has withdrawn its court appeal against a massive bill for its offshore tax practices, meaning $340 million will find its way back into the government’s coffers. Chevron ...; 18 August 2017 in Sales
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264 Tax agent struck off for MIA documents ...: A former tax agent, who was deregistered for repeated failures to lodge his own tax statements, has lost an appeal against the decision. Hemanshu Juneja and his associated corporate entity Three Wickets ...; 17 August 2017 in Growth
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265 ‘Our fines were bigger than the tax bill’ ...: Two business partners reveal how their business finances hit rock bottom, and what they did to turn things around. “The worst case was when the fines were bigger than the tax bill. That was rock bottom!” ...; 11 August 2017 in Growth
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266 Introduce tax flexibility for SMEs, government urged ...: Mounting confusion on the tax classifications of certain businesses has seen an accounting firm call for SMEs to be able to elect one of two tax rates. In the 2017 budget, the government amended the ...; 04 August 2017 in Sales
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267 Trusts tax proposal ‘disadvantaging’ SMEs ...: Just as SMEs begin to enjoy the benefits of business tax cuts, a new tax proposal on trusts could add tens of thousands of dollars to their annual tax bill. The policy proposal by the federal opposition, ...; 31 July 2017 in Sales
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268 Tax tips for the new financial year ...: Just as many people make New Year’s resolutions to change things in their life, so too should Australians look to make changes in the new financial year and become as tax effective as they can be, according ...; 06 July 2017 in Sales
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269 ‘Confusing’ $20K tax break snaring business owners ...: ... to extend the $20,000 instant asset write-off for small businesses for another year was passed by the Senate with no amendments. While supporting the extension, the Tax Institute’s senior tax counsel, ...; 04 July 2017 in Sales
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270 Employers needlessly lining the tax man’s pockets ...: Employers may be surprised to discover they are inadvertently paying more tax than they need to by failing to accurately calculate their GST and FBT liabilities. It is something that Murray Warner, ...; 03 July 2017 in Sales
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271 Slash your tax bill with these last-minute tips ...: Most business owners put off planning their tax until long after 30 June, not realising that by then it’s too late to take advantage of many of the steps they could have implemented. If you want to ...; 29 June 2017 in Sales
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272 ATO’s top tax target for FY2017 revealed ...: Two accountants have reiterated warnings on the risk of making incorrect work-related expense claims in the lead-up to tax time, following the ATO indicating it will scrutinise all expense claims using ...; 27 June 2017 in Sales
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273 Rogue accountant jailed for $2m tax fraud ...: An accountant has been sentenced to eight years in jail after pleading guilty to lodging fraudulent tax refunds that netted more than $2 million. Perth accountant Peter Stamatopoulos was handed down ...; 23 June 2017 in Sales
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274 Unfair foreign tax advantage cut ...: The government has announced it will fix a much-despised aspect of the business taxes, although reaction to the move has been decidedly mixed. Treasurer Scott Morrison said in a statement that from ...; 22 June 2017 in Sales
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275 ATO reveals outrageous tax claims ...: Motorbike riding, underwear, martial arts classes and a shoe rack are among the strange tax claims people have been caught out pushing for, as the ATO warns against making false claims. Every year, ...; 20 June 2017 in Sales
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276 SMEs ‘leaving money on the table’ at tax time ...: Sadly too many SMEs are likely paying more tax than they need to because of a lack of understanding around depreciation claims. Speaking with My Business, CEO of BMT Tax Depreciation Brad Beer says ...; 07 June 2017 in Sales
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277 Simpler tax reporting on its way ...: A number of SMEs are set to benefit from changes to BAS reporting this tax season, as the industry pushes for greater simplification around cumbersome tax reporting and accounting processes. The ATO ...; 01 June 2017 in Sales
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278 'Bizarre' tax time claims revealed ...: Cigarettes and luxurious overseas holidays are just some of the things Australians have tried to get over the line at tax time, which is fast approaching for 2017. Accounting franchise H&R Block did ...; 27 April 2017 in Sales
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279 The state of play of the R&D tax incentive ...: ... is crucial to both new and established businesses and consideration of the R&D tax incentive is not only relevant to start-up and information technology companies, but should also be considered on an ongoing ...; 04 April 2017 in Sales
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280 Tax cuts for big business on SMB wish list ...: While not the most popular belief at face value, SMB owners see plenty of value in giving tax cuts to all businesses regardless of size. According to the biannual MYOB Business Monitor survey, nearly ...; 20 January 2017 in Sales