Please Note: This Content is Archived The Federal Government has legislated this change and ended the HELP repayment scheme. For a full overview on all things HELP related, we’d suggest viewing our article on how to repay your help debt. Back in August 2013 the Federal Government announced they would end the discount for early […]
Tax Information for People Affected by Natural Disasters
Natural disasters take an incredible toll emotionally, physically and financially. In times like this, it’s vital to know your entitlements and where you can go for help. If yourself or a loved one has been affected by natural disaster, please read our guide below for assistance. Need more time to lodge, pay or respond to […]
Motor Vehicle Data Matching in Full Swing at ATO
In its crusade against what they call the cash economy’, the ATO has announced plans to collect the details of all individuals and businesses that have purchased or acquired a vehicle where the transfer and/or market value is $10,000 or greater in the 2011-12 and 2012-13 financial year. This involves computerised “motor vehicle data matching” […]
New carbon tax had no effect on inflation
Private analysts TD Securities-Melbourne Institute’s inflation gauge rose 0.6 per cent during August. But, according to their head of Asia Pacific business, Annette Beacher, this was not due to the introduction of the Carbon Tax. A few goods and services increased in price during August which contributed to the 0.6% increase, however there were also […]
Superannuation Co-Contribution: Get More Money for Your Super
Ever wonder how you can better prepare yourself for retirement? Low or middle-income earners can give your super a nice boost – with very little sacrifice! Read on to find out how you can take advantage of the Federal Government’s superannuation co-contribution scheme. What is it the government super co-contribution scheme? The super co-contribution scheme is […]
eBay Income: Do you sell online? The ATO is watching…
As online retail continues to outpace high street stores, the ATO is keeping a careful eye on everyone’s eBay income When eBay launched in 1999 it was simply an auction site where people could sell household goods they no longer needed. This has changed dramatically over the past 20+ years, with many people now using […]
Australians Think the Wealthy Should Pay More Tax
The majority of Australians appear to feel that the wealthy should pay more tax. 60% of respondents in a recent ACTU survey support raising taxes for Australia’s highest income earners. Major findings of a recent ACTU study include: Support for raising taxes for people who earn more than $200,000 per year. Support for cutting taxes for […]
ATO Audits are Now More Accurate at Finding Tax Cheats
ATO Audits are conducted when ATO systems detect signs that someone is cheating on their taxes. The Australian Tax Office (ATO) now uses more advanced computers to detect suspicious claims and fraudulent tax returns. Computer modeling finds tax cheats and triggers ATO audits A series of 20 computer models run on every tax return, with […]
2011 Tax Return Changes: 6 important items that may affect you…
Year after year, the Australian Tax Office refines and updates their rules and regulations for personal income tax in Australia. With July 1st fast approaching we’ve decided to take a look at the 2011 tax return changes and how they will affect you in preparing your upcoming tax return. Our expert accountants identified the following […]
Tax Audits: Are they likely to affect you this year?
The ATO identifies key targets for tax audits in 2011. Each year the ATO releases a list of risks they have identified under their compliance program. The list points out what the ATO will focus on in their tax audits and checking in the upcoming year. Take a look below to see if any of the key […]