If you’re going to drive passengers for a fare, get familiar with your tax obligations before you start.
Did you know, “ride-sourcing is treated the same as taxi travel for GST purposes, so you’ll need to get an ABN and register for GST, regardless of how much you earn.” Source, Australian Taxation Office (ATO)
You can apply […]
About the business
Taxation and Business Consultants is a highly regarded CPA Accounting/Tax Practice in Capalaba seeking an experienced Auditor Assistant to join our team. If you strive for excellence and have a passion for quality service delivery we want to hear from you! How to apply: Please read the criteria below and if this role is a good […]
The ATO has announced after public consultation the ATO has updated their guidelines on tax treatment of crypto-currencies. The ATO’s guide on the ATO website now states:
“The term crypto-currency is generally used to describe a digital asset in which encryption techniques are used to regulate the generation of additional units and verify transactions on a […]
Tax time can be mind boggling for small business owners. Especially with new tax laws in 2018 and the increasing number of start ups in Queensland meaning many business owners are facing their very first tax time.
So we’re sharing these two fabulous easy to read posters from the ATO to help you at tax time. […]
The Australian Tax Office is targeting home office expense deductions – what does this mean for you?
The ATO is increasing its attention, scrutiny and education around deductions for home office expenses and may contact a taxpayer’s employer to verify the claimed expenses.
The ATO says a significant issue is a taxpayer claiming the entire amount of […]
Do you offer accommodation services through an online platform? Did you know the ATO is focusing on the “sharing economy” in 2018? The ATO has stated its intention to use its data matching powers to identify people who have or may be engaged in providing accommodation services through an online platform during the 2016-17 to 2019-20 financial […]
Rental Bond Data
Did you know the ATO has announced its intention to collect real property rental bond data from state and territory rental bond authorities dating back to 20 September 1985 (the introduction of the CGT regime)?
The data will be collected to identify individuals who have income tax reporting obligations for income producing properties or […]
In the ATO guide for hospitality workers, the ATO states:
To claim a work-related deduction:
you must have spent the money yourself and weren’t reimbursed
it must be directly related to earning your income
you must have a record to prove it.
If the expense was for both work and private purposes, you can only claim a […]