ATO

Upcoming ATO open forums for practitioners

  As part of its ongoing engagement with tax practitioners, the ATO has announced some upcoming ATO open forums for practitioners. It will again be holding these open forums in a range of locations across Australia between September and December 2018. Open forums are an opportunity for tax practitioners to have an open two-way dialogue

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Annual vacancy fee for foreign residential property owners

  At the end of 2017, an annual fee was introduced for dwellings owned by non-residents of Australia. The measure is part of the government’s housing affordability plan, and is also a financial incentive for foreign owners to make their dwelling available for rent and increase available housing in Australia. Under the legislation, the Treasury

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An expense that’s hard to categorise? It could be a D15

  Clients now and then may need to be directed towards the supplementary section of a tax return if they are keen to claim a deduction that does not sit comfortably within the other items that precede it. The supplementary section is where we find item D15, “other deductions”. In its guidance, the ATO makes

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A tax boost for low and middle income earners

  Your lower and middle income clients won’t see any benefit from a new tax offset announced in May’s Federal Budget until about a year from now, when a lump sum credit is recorded in their tax assessment, courtesy of the ATO. The Low and Middle Income Tax Offset (LMITO), like all tax offsets, reduces

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