The ATO has updated its list of ‘What attracts our attention’, with six items that specifically relate to fringe benefits tax (‘FBT’), as follows: Failing to report motor vehicle fringe benefits, incorrectly applying exemptions for vehicles or incorrectly claiming reductions … Read More
The ATO has noticed some common errors made in activity statements since the introduction of “GST at settlement” on 1 July 2018. Editor: These new laws require purchasers to withhold GST on settlement (and pay it to the ATO directly) … Read More
The ATO has a myriad of rules and regulations when it comes to considering whether tax is payable. It all depends on the particular circumstances of the individual tax payer or the business that wants to claim a concession. Here … Read More
The ATO has again warned taxpayers to be alert for scammers impersonating the ATO, as it appears they have changed tactics in 2019. Specifically, the ATO is seeing the emergence of a new tactic where: “scammers are using an ATO … Read More
The ATO has recently reminded small businesses of the expanded tax concessions potentially available to them, as outlined below: The pending increase in the small business instant depreciating asset write-off to less than $25,000 (as discussed in further detail here). … Read More