ATO

More TPARs (taxable payments annual reports) due soon

Operators in some Australian industries as well as select government entities are required by the ATO to lodge a taxable payments annual report (TPAR). These reports let the ATO know about payments that are made to contractors for providing services. Contractors can include subcontractors, consultants and independent contractors, and they can be operating as sole

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Do you have a legal expense, and is it deductible?

When a legal expense is incurred in relation to the operation of a business to produce assessable income, it is generally allowable as a deduction. Exceptions are when the legal fee is capital, domestic or private in nature, if it is specifically excluded by another section of income tax legislation, or is incurred in earning

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ATO expects many laundry claims will be hung out to dry

This tax time, the ATO, as usual, has nominated some tax claim hot spots that it will be paying attention to — and which you could warn clients who may be likely to claim these deductions with abandon. For example, the ATO has already flagged that it will be checking returns for taxpayers who take

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