Category: ATO Compliance

Crypto transactions are on the ATO radar. Tax and GST rules apply the same to crypto as to other forms of payment, just like bartering. Talk to us about getting your crypto transaction records together for your tax return.

Do you use income splitting to reduce tax? The ATO is changing rules around income splitting and is checking taxpayers who may have high-risk agreements. Book a time with us to review existing arrangements prior to new rules starting in July 2021.

In an attempt to reign in undeclared income, proposed new laws will require platform providers in the sharing economy to report all transactions through their platforms.

We have a client whom has paid a deposit for a commercial property in the December period totaling $30,500.00. We do not currently have a tax invoice for the payments (however we can try request one) and the property will settle in approximately three months. Are we entitled to claim the GST credits on the deposit paid?

Fringe benefits tax (FBT) is one of Australia’s most disliked taxes because it’s cumbersome and generates a lot of paperwork. The COVID-19 lockdowns have added another layer of complexity as many work patterns and behaviours changed.

Legislation that passed through Parliament last month prevents taxpayers from claiming a deduction for expenses incurred for holding vacant land. The amendments are not only retrospective but go beyond purely vacant land.