Tax

Authoritative and technically accurate information and guidance on all areas of tax

Capital works deductions for rental property

Rental property investors can claim capital works deductions for construction costs for a rental property, however there are limits imposed in relation to the dates such works were completed. The deductions are only available on residential properties if these were built after 17 July 1985. Generally, up to 15 September 1987 the rate is 4%

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Community complaints prompt IGT to review PAYG instalments

The Inspector-General of Taxation, Ali Noroozi, has just released his review into aspects of the pay-as-you-go (PAYG) instalments system that have come to be viewed as less-than-helpful by many participants and associated stakeholders. The IGT’s review into the PAYG instalments system was conducted largely in response to feedback drawn from the IGT’s complaint handling service

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Are your employer clients prepared for Single Touch Payroll?

Are your employer clients prepared for Single Touch Payroll? STP is a government initiative to streamline business reporting obligations, which is due to become compulsory from 1 July 2018. When an employer pays their employees, the payroll information will be sent to the ATO from their payroll solution. Reporting under the new system removes the

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