Your practice

Relevant and practical knowledge and tools to build your business

ATO warns myGov a wrong fit for tax agent lodgment

The ATO says it has identified some tax agents (both registered and unregistered with the Tax Practitioners Board) who have been using their client’s personal login details to access that client’s ATO Online account myTax through myGov. The tax agents concerned then lodge tax returns on behalf of their clients. The ATO warns that myTax

[ Read More ]

Tax landscape after the election: The way ahead

John Jeffreys* There are two ways that tax practitioners can look at the election result — and these have nothing to do with the shades of blue or red that may have tinged your voting intentions in the lead up to May 18. During the election campaign, with now de-bunked polls asserting a change of

[ Read More ]

Mortgage offset accounts: An explainer

“Mortgage offset accounts”, “offset home loan”, “interest offset account” or simply “offset account” — they are all interchangeable labels for the same financial product provided by banks. It is essentially a savings account that is linked to a loan account. An offset facility contains two bank accounts: (1) a transaction account (meaning you have access

[ Read More ]

ATO due dates July 2019

21 July Lodge and pay June 2019 monthly business activity statement. Lodge and pay quarter 4, 2018–19 PAYG instalment activity statement for head companies of consolidated groups. 28 July Lodge and pay quarter 4, 2018–19 activity statement if lodging by paper. Pay quarter 4, 2018–19 instalment notice (form R, S or T). Lodge the notice only if you vary

[ Read More ]