Tax

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

Substantiation exception for reasonable travel allowance expenses

One of the issues that Tax & Super Australia finds frequently raised by members is the tax treatment of work related travel expenses, as well as the reliance on the “reasonable amounts” prescribed by the Commissioner. In our view, the current ATO guidance may not adequately cover the issues encountered by practitioners and taxpayers. Often,

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5 tips to get home office deductions right

Your client might be sick of the daily commute, or want more flexibility of hours – or it could be that they have a talent or skill that they trust will translate into a fulfilling career in their own business. Or it could just be that the idea of working from home seems to offer

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Top 5 Division 7A watch-outs

The top 5 Division 7A watch-outs are as follows. 1/ Transaction caught by Division 7A Division 7A will arise if transactions fall into the following three categories, for a shareholder or shareholder’s associate: certain loans from a private company, certain payments from a private company, and forgiveness of a debt owed to a private company.

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Backpacker tax: Government backs down

Backpacker tax: Government backs down. The Federal Government has responded to pressure and dropped its plan to introduce a 32.5% tax on backpacker workers. Instead, working holidaymakers will be taxed at a lower rate of 19%, starting January 1, 2017. They will still be charged from the first dollar earned. Under the original $540 million

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