A long-term effort by the ATO to get more tax out of the oil and gas sectors has paid dividends that are likely to deliver billions of dollars in extra revenue.
Treasurer Jim Chalmers has indicated the government will tighten its focus on gambling companies’ use of R&D tax credits,which can total tens of millions.
About two-thirds of federal parliamentarians own two or more properties,an analysis of declared interests shows.
Australians are divided on the best ways to respond to the housing crisis amid a fierce political debate on tax breaks for investors.
Professional poker player Raj Ramakrishnan once rubbed shoulders with cricket’s elite but now faces allegations he engaged in tax fraud and owes the ATO $14 million.
In a few weeks,everybody will have a fatter pay packet because the tax rates are changing. Smart money managers will put the extra to good use.
If you’re someone who has historically been lax with record keeping,you can expect an audit from the Tax Office’s new AI-powered systems.
Finding extra money today may be a big stretch. But if you can redeploy any,the financial advantage could work out well worth it.
You need to look for every tax deduction and defer any income you can,and take advice on your particular circumstances so you don’t overdo it.
Dodgy landlords making inflated claims for repairs and maintenance on their rental properties are firmly in the Australian Tax Office’s sights.
Work-related handbags,briefcases and sunscreen are just some of the tax deductions that can be overlooked.