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.
Tax time can be a painful process,and many people put off filing their tax return. Here are some tips to make it easier and get more back.
Long-time owners of traditional beach shacks are facing hefty land tax bills because nostalgic Sydneysiders with cash to burn have pushed up property prices.
Taxpayers spend billions every year on deductions for property investors,and the Australian Tax Office has some questionable claims in its sights this tax time.
From TVs and headphones to smart home gadgets,here are our top picks if you’re planning a splurge with your tax refund this year.
As the end of the financial year approaches,it’s time for everyone,particularly those earning more than $45,000 a year,to have a good look at the tax savings available on money funnelled into superannuation.
The ATO has released its tax time hit-list for this financial year,and work-related expenses and cryptocurrency profits are in the firing line.
The ATO estimates nearly $34 billion worth of tax was not paid in the year before the pandemic hit,with small businesses responsible for the majority.
Unprecedented working-from-home tax deductions plus tax cuts offered by the federal government mean more than half of taxpayers can expect their biggest tax refund this year.
Taxpayers have rushed to lodge their tax returns with the ATO early in anticipation of bumper refunds to help provide relief from dwindling savings during the COVID-19 crisis.
Smaller employers will join larger companies this year in not providing income summaries to their employees. Instead,they will go directly to the ATO.