Using the small business benchmarks

The ATO has a database of “small business benchmarks” against which it compares lodged information. But business owners can also benefit by using the small business benchmarks to compare their own performance. Using small business benchmarks It says the small business benchmarks: are calculated from income tax returns and activity statements from more than 1.3 million

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Exciting new initiatives at Tax & Super Australia

As 2017 draws to a close, now is a great time to reflect on some of the exciting initiatives that Tax & Super Australia has recently launched for its members. We are committed to listening to our members’ feedback and developing resources and solutions that address their needs. New breakfast discussion groups We are excited

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The ATO’s administrative treatment of retrospective legislation

Retrospective tax law changes take affect for a period before the date of enactment, once the legislation is passed. For example, legislation that came into law in the last half of 2017 now makes a reality a measure first proposed in the May 2017 Federal Budget. The “housing tax integrity” bill solidifies the government’s intention

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Tax Wrap podcast: Hits of 2017

Our weekly Tax Wrap podcast provides professional insights through informed discussion about current issues in tax and superannuation. Whether you’re walking to work, commuting on the train or bus, or driving the car, you can stay up-to-date with our free informative weekly Tax Wrap podcast compiled by our tax experts. With more than 150 episodes already,

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Be aware of your clients’ “fingers crossed” expense claims

The ATO has found that certain “higher risk” expenses are typically incorrectly claimed by taxpayers time and again. If your clients persist in suggesting the following expense claims, it will pay to go over the details to make sure the claim is not knocked back. Travel between home and work Travel between home and work

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