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Category Archives: Taxation

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Tax Updates for April 2017

Tax Updates for April 2017
What's in this month's tax updates:-
  • Ride-sharing Drivers Must Register for GST;
  • Tax Offset For Spouse Super Contributions Change from 1 July 2017;
  • ATO Targets Restaurants and Cafes, Hair and Beauty Businesses in Cash Economy Crackdown;
  • Super $1.6 Million Transfer balance Cap and Death Benefit Pensions Changes;
  • No Deduction For Carried-forward Company Losses;
  • Overseas Income Not Exempt From Australian Tax;
  • GST On Low Value Imported Goods.
(more…)...
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Tax Updates for February 2017

Tax Updates for February 2017
February's Tax Updates - Here's what's in this update:-
  • What are the ATO's priorities on settling cases?
  • The ATO has developed "work-related expenses" profiles.
  • The onus is on the taxpayer to show "No Fraud".
  • Admin Penalties of 75% for failing to lodge FBT Returns!
  • New ATO data-matching program.
  • Tax Ruling on deductibility of commercial websites.
  • Beneficiaries of Trusts - Tax Determination on deductibility of bad debts.
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ATO Computer Systems Having Difficulties

ATO Computer Systems Having Difficulties
Since early December 2016, the Australian Tax Office (ATO) computer systems and databases have met significant difficulties through crashes. From time to time, the Tax Agent's Portal, SBR system, Australian Business Register, and other systems have been crashing. Tax Agents have been told that no information was lost or at risk to nefarious parties. However it has made our job difficult in the time being. (more…)...
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OTS Management