tax return

Guiding hand for a client saddled with a tax debt

  Whether your client is running a business or is just an individual trying to make ends meet, there is nothing worse for them than to find they have a tax debt owing to the ATO, which most likely will also be accruing a general interest charge and perhaps even a shortfall interest charge. The

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A commonly forgotten tax deduction: Association fees

  A commonly forgotten tax deduction is for subscription or membership fees to an association or union, which affects many professionals, business or trades people who will probably be members of some sort of association.  See taxation ruling TR 2000/7. Broadly, the test for deductibility under the rules is whether the payment is an outgoing

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ATO extends due date for 2015-16 SMSF returns

This week the ATO announced that it will extend the due date for lodgment of self-managed superannuation fund (SMSF) annual returns for 2015-16 to 30 June 2017. Deputy Commissioner James O’Halloran said the ATO has made this decision as a result of feedback received from professional and industry representatives. “We have heard that many accounting and

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