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

The Tax Office has completely changed its documentation

Over the last few months a lucky bunch of taxpayers road-tested a new suite of paper-based ATO correspondence letters at the regulator’s Co-Design Centre in Canberra. The crash-test results were favourable, so now we can reveal what you’ll get in an envelope from the Tax Office going forward. The Tax Office has completely changed its

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Bank deposit levy dumped

A controversial bank deposit tax proposal has been dumped by federal government following criticisms the tax measure would not encourage bank customers to use wealth creation products. Bank deposit levy dumped. Prime Minister Tony Abbott said the levy was a misguided tax on savings accounts rather than the economic safeguard protocol Labor originally intended. “The

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How your work-related car expense logbook should actually look

In a tax world where proof is the taxpayer’s burden, “show me” is a typical response from the Tax Office.  So when it comes to cars, what do you need to show? If you chose to use the logbook method to claim your car expenses, you obviously need a logbook.  This doesn’t have to be

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R&D tax incentive claims are being scutinised

The Tax Office warns that it is working closely with AusIndustry to identify taxpayers involved in aggressive R&D Tax Incentive arrangements. It says some claims made for the R&D incentive have been negligent on the compliance requirements generally expected when making a claim, with some other instances even bordering on tax avoidance and fraud. The

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Tax Office videos explain some work related expense claims

Have you been slow off the mark and still haven’t lodged your income tax return yet (or even better, made an appointment with your tax agent)? It’s already September, so you’d better get cracking as the Tax Office expects all returns to be lodged by October 31 — although this is another reason why it’s

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