Blog

SMSF under scrutiny for lack of asset diversity

Are all your SMSF eggs in one basket?

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ATO cracks down on overseas income

Five years ago, the Australian Taxation Office (ATO) offered a penalty amnesty on undisclosed foreign income. Five years on, the ATO has once...

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An accountants guide to claiming rental property expenses

It’s not uncommon for landlords to be confused about what they can and can’t claim for their rental properties. What often seems to make perfect...

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Identifying and avoiding ATO impersonation scams

Are you confident in your ability to spot a scam? You may need to think again, as scammers are becoming increasingly sophisticated in their...

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Personal income tax changes – what are you really entitled to?

The recent income tax cuts that passed through Parliament do not mean everyone automatically gets $1,080 back from the Government as soon as they...

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Why the Government is restricting cash payments to under $10,000

From 1 January 2020, the Government intends to restrict the value of cash payments a business makes or accepts to amounts under $10,000. Ignoring...

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FBT and Uber style ride sharing

When an employee uses a taxi service for travel to or from work or if the employee is sick, it is generally exempt from Fringe Benefits Tax (FBT)...

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Weirdest tax deductions revealed

Would you claim the Lego you bought for your kids throughout the year as a tax deduction? One taxpayer did and it made the Australian Taxation...

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Active Accounting Group prepares a Meal from the Heart

Last month, Active Accounting Group got together outside of the office to prepare a meal for the wonderful families staying at the Ronald McDonald...

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Single touch payroll exemption for directors and family members

The ATO has provided a concession from single touch payroll for payments by small employers to closely held payees.

Single touch payroll (STP) was...

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