ATO

Cloud computing, and navigating your business’s risk

Agreements between users of cloud computing services are as variable as the businesses involved, which has led the government to the realisation that the ongoing adoption of cloud-based business solutions has brought with it a need for a whole-of-government approach to the issues that can surface. The government’s Information Management Office (IMO) defines cloud computing

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Potholes exposed in the road to tax deductions

Jay Huang unearths some “ATO high risk” expenses that typically incorrectly claimed. Potholes exposed in the road to tax deductions Travel between home and work is generally considered as private, and accordingly the expense is not deductible. However, in some circumstances, travel expenses are claimable. This has been a hot focus area for the ATO.

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The PLS is looming larger on the horizon

The ATO’s new practitioner lodgment service (PLS) is replacing its incumbent electronic lodgment service (ELS) as the primary lodgment channel (which will be “turned off” at the end of March 2017). Lodgments made using PLS will need to be made with standard business reporting (SBR)-enabled software packages. The PLS is looming larger on the horizon

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Home office deductions: What substantiation will the ATO accept?

Home office expense claims are subject to the same general substantiation requirements as other deductions – that is, records must be kept for five years. But in practice, full compliance with the substantiation rules may be difficult. It may be simple to keep a receipt for a printer purchased for a home business, but not

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ATO lets the cat out of the bag on what attracts its attention

There are certain behaviours, characteristics and tax issues that the ATO admits will attract its attention. ATO lets cat out of bag on what attracts its attention But as it is more interested to see taxpayers get things right rather than the bother, and expense, of chasing down every misdemeanour, the ATO has spelled out

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