Hot Issues
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5 strategies for successful ‘work from home’ policies
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Small businesses: don’t forget your FBT concessions
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ATO chases $172bn in undeclared contractor income
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‘Penalties will resume’: ATO flips the switch on debt recovery
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JobMaker Hiring Credit rules and reporting
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ATO data-matching: JobMaker
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A broad range of Calculators.
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ATO Small Business Newsroom
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ATO’s good-faith approach to crypto won’t last much longer
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‘Much more complex’: ATO introduces new partnership profit guidelines
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Cost of retirement up in December quarter
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Contributing to Superannuation
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ATO tipped to pounce once JobKeeper ends
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What’s Happening to Small Business Loans in Australia?
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ATO Revs Up As JobKeeper Set To End In March 2021
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Small businesses urged to register assets before insolvency explosion.
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ASIC sounds warning around high-yield bond scams
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JobMaker Resources - ATO
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Government mulls HECS-style business loans
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Industry pressure forces ATO’s hand on STP deadline
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$36bn withdrawn from super during COVID-19
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ATO opens claims for first JobMaker quarter
Article archive
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Quarter 1 January - March 2021
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Quarter 4 October - December 2020
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Quarter 3 July - September 2020
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Quarter 2 April - June 2020
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Quarter 1 January - March 2020
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Quarter 4 October - December 2019
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Quarter 3 July - September 2019
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Quarter 2 April - June 2019
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Quarter 1 January - March 2019
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Quarter 4 October - December 2018
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Quarter 3 July - September 2018
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Quarter 2 April - June 2018
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Quarter 1 January - March 2018
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Quarter 4 October - December 2017
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Quarter 3 July - September 2017
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Quarter 2 April - June 2017
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Quarter 1 January - March 2017
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Quarter 4 October - December 2016
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Quarter 3 July - September 2016
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Quarter 2 April - June 2016
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Quarter 1 January - March 2016
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Quarter 4 October - December 2015
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Quarter 3 July - September 2015
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Quarter 2 April - June 2015
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Quarter 1 January - March 2015
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Quarter 4 October - December 2014
Quarter 3 of, 2020 archive
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September update of latest COVID-19 initiatives.
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ATO JobKeeper 2.0 guidance surfaces
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Expats Return to Australia – Travel Expenses
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Profession to be relied on for post-JobKeeper turnover certificates
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Update of Superannuation contribution rules from July 1, 2020
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Expats & COVID-19 Impacts on tax residency
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Economic recovery could be slower than anticipated: RBA
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High Court rules in favour of employers on personal leave accruals
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JobKeeper Phase 2 - Latest Update
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Payroll Tax 2020 concessions and JobKeeper
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High alert issued over myGov tax time scam
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Extended director penalty regime to catch out ‘zombie companies’
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SG amnesty deadline - 7 September
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‘Hundreds’ to be contacted in ATO early super compliance blitz
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90,000 SMEs to benefit from new JobTrainer program
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Work Related expenses – 2020
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‘Everyone is now on notice’: ATO acquires COVID-19 data on 3m Aussies
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Extra Tools & Resources for our clients.
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Year End Tax Deductions – “equipment”
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Home Office Claims 2020
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Early release of super sees ‘high take-up’
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Tax time 2020: ATO homes in on rental deduction claims
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ATO announces Div 7A COVID-19 assistance
Work Related expenses – 2020

Although the coronavirus lockdown has changed the work habits of many taxpayers, the fundamental tax claims for 2020 apply the same old tax principles.

       

Home Office

  • Claim the costs incurred, plus a new simpler short-cut method of 80¢ per diary hour.

Travel

  • Motor vehicle costs can be claimed under several methods, but using a logbook will almost always produce the best claim.  If you haven’t kept a logbook, how will you know what you missed out on?  Total kilometres travelled by Australia generally has declined, leading to a similar expectation for every taxpayer.  Are you any different?
     
  • Other travel claims are expected to be much lower due to lockdown, so strong evidence of purpose as well as receipts can be expected.

Subscriptions

  • Trade associations, etc, same rules.  Have digital subscriptions or anti-virus software subscriptions increased?

Clothing & Laundry

  • Same rules as always, but use may have changed.  It is probable that most taxpayers will have reduced costs, but other habits may change e.g. sanitiser, which has significantly increased.  What are your changes?  Think about them now and make a note or ask the question.

Tax Agent Fees

  • As always, these expenses are tax deductible.

Other

            What expenses have increased which you can provide a rationale and some evidence to connect to your income generation?

 

 

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