Deductions for Dummies – The ATO’s top 11

The ATO has warned taxpayers about common deductions that should not be claimed. In a new guide, Don’t be a dummy with your deductions, the ATO lists eleven items that are often claimed but probably shouldn’t be: •    Travel between home and work; •    Car expenses...

GST on Imports: New Rules For Goods Under $1000

Last month, Parliament passed legislation that will see GST applied to all consumer imports regardless of their value. Currently, imports below $1,000 are excluded from GST. The perceived preferential treatment of internet shopping has been a contentious issue for a...

What Did I Miss? 1 July Changes

•    GST applies to digital products & services imported by consumers •    Small business $20k instant asset write-off extended until 30 June 2018 •    Company tax rate reduction to 27.5% for entities with an aggregated turnover of less than $25m (companies with a...