Personal Income Tax

Single Touch Payroll

Single Touch Payroll is a government initiative designed to simplify business payroll reporting obligations. This system is mandatory starting on July 1, 2018.  It sends employee payroll information to the ATO directly through the business’s payroll software. 

Scams and Fraud: Stay Alert and Beat the Scammers

An astonishing $2.7 million was fraudulently taken from 2,500 Australians by scammers last year. Even more shocking is the fact that many of those people willingly handed over sensitive data, including tax file numbers. Why? Because they fell victim to tax-related scams. With this in mind, the ATO is embarking on a series of initiatives to educate taxpayers on how to spot, avoid and report identity theft and scams.

Changes to Legislation Means Rental Property Owners Lose Some Deductions

After its announcement in the Federal Budget in 2017, the passing of the ‘Housing Tax Integrity’ Bill in the last quarter of 2017 confirmed once and for all that government intends to deny certain deductions previously available to rental property owners. Specifically, those deductions are those related to travel expenses in connection with the collection of rent and maintenance or inspection of residential properties used as an investment. Furthermore, the legislation also removes deductions for depreciation of plants and second‑hand equipment that came with the purchase of said property.

The ATO Regarding Initial Repairs for Rental Property Owners

“Improvement” repairs made by investment property owners often draw the attention of the ATO.  Usually investment properties have improvements done shortly after the initial purchase.  This is usually referred to as “initial repairs” when it comes to discussing tax liability on such repairs.

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02
Feb2015

Welcome to my blog

Welcome to my blog

02
Nov2016

Qualifications

Recently somebody asked me how many qualifications and post nominals I had. I replied that I don’t know – I’ve lost trac...

02
Nov2016

Ben, Have you invented any new words lately?

A correspondent has asked if I have invented any new words. Indeed I have. Procreastation: The tendency to put off doing...

02
Nov2016

Ben, what is the greatest waste of taxpayers money?

Thank you for asking this important question. The greatest waste of taxpayers money in history is without doubt the new...

02
Nov2016

Ben, What is the Mac tax? Is it federal or state?

Thank you for that interesting question. The Mac tax is a tax that is imposed neither by the federal nor the state gover...