News

The ATO focus on work-related clothing and laundry expenses

A focus on work-related clothing and laundry expenses this Tax Time will see the ATO “more closely examine taxpayers whose clothing claims don’t suit them”.

According to Assistant Commissioner Kath Anderson, around 6 million people claimed work related clothing and laundry expenses last year, with total claims adding up to nearly $1.8 billion.

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Personal Income Tax Cuts passed!

Parliament has passed the Government’s Personal Income Tax plan, meaning that the first stage of the proposed income tax cuts will start to take effect from 1 July 2018. According to the Prime Minister, taxes “will now be lower, fairer and simpler”.

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2017/18 Year End Checklist for Business

2017/18 Year End Checklist for Business

Many of our business clients like to review their tax position at the end of the income year and evaluate any year-end strategies that may be available to legitimately reduce their tax.   Traditionally, year-end tax planning for small businesses is based around two simple concepts – i.e., accelerating business deductions and deferring income.

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2017/18 Year End Checklist for Business