Your tax return is only one source of information available to the Australian Taxation Office. Banks, employers, super funds and other organisations also provide data that the ATO can compare with what you report. Understanding how this works can help you avoid missed income, incorrect claims and unnecessary questions at tax time.
Read MoreA new $1,000 instant tax deduction could make tax time easier for eligible Australian workers. But before choosing the simple option, it is worth checking whether claiming your actual work-related expenses could give you a better tax result.
Read MoreGetting money back from the ATO at EOFY is fantastic. But claiming the wrong things can cause problems later. For the 2026 tax year in Melbourne, make sure you don't list these common items. If you are ever unsure, accuracy is paramount, always get professional help rather than guessing.
Read MoreA decision by the Administrative Appeals Tribunal has the tax world in a flurry after the Tribunal found in favour of a taxpayer who sold the apartment she lived in for a loss, then claimed the $265,935 loss in her tax return as a deduction.
Read MoreDon’t want to pay tax on Christmas? Here are our top tips to avoid giving the Australian Tax Office a bonus this festive season.
Read MoreThe digital games and interactive entertainment sector is the largest creative sector in the world and one of the fastest growing industries worldwide. The global digital games industry is worth around $250 billion and in Australia, grew 22% between 2020 and 2021 generating $226.5 million in income and employing over 1,300 fulltime workers. And, it’s an industry the Government wants to support with a new tax offset.
Read MoreThe 120% skills and training, and technology costs deduction for small and medium business have passed Parliament. We’ll show you how to take maximise your deductions.
Read MoreIt’s a new financial year. Here are some important changes that came into effect on 1 July 2023 that you should be aware of.
Read MoreAn election ago, the 2022-23 Budget proposed a 120% tax deduction for expenditure by small and medium businesses on technology, or skills and training for their staff. This proposal has now been adopted by the current Government and details released in recent exposure draft by Treasury.
Read MoreThe ATO has flagged four priority areas this tax season where people are making mistakes.
With tax season almost upon us the Australian Taxation Office (ATO) has revealed its four areas of focus this tax season.
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