Collins Hume24 hours agoTax Time Targets — RecordkeepingWith tax season upon us the ATO has revealed its four areas of focus this tax season. We start with recordkeeping requirements.
Collins Hume5 days agoAccountant Spotlight: Joel LaceyAs another numbers whiz, Intermediate Accountant Joel is on his way to helping business owners understand their financials.
Collins HumeJun 13Deduction for skills training and technologyWe clear the confusion (as much as possible) on the 120% deduction for skills training and technology announced in the Federal Budget.
Collins HumeJun 5What’s changing on 1 July 2022?We look at the ample number of changes coming into force from 1 July 2022.
Collins HumeMay 29ATO turns up heat on directorsThe ATO warns directors potentially in breach to ensure the company they represent meets PAYG withholding, SGC and GST obligations.
Collins HumeMay 23Can I claim a tax deduction for my gym membership?Can you claim a deduction for your gym membership? The administrative appeals tribunal clarifies.
Collins HumeMay 16Fuel tax credit changesThe temporary halving of excise and excise equivalent customs duty rates has caused a reduction in fuel tax rates.
Collins HumeMay 2Accountant Spotlight: Tamara Pavez-SantanderMeet Grad Accountant, Tamara, and find out how she's taken a love of all things mathematical to embark on a career in accounting.
Collins HumeApr 26COVID-19 tests now tax-deductible for employeesFrom 1 July 2021 employees, sole traders or contractors that pay for a COVID-19 test for a work-related purpose, can claim a deduction.
Collins HumeApr 4Employees vs contractorsEvery business that employs contractors should have a process in place to ensure the correct classification of employment arrangements.
Collins HumeMar 30Budget 2022-23 SummaryThe 2022-23 Federal Budget is a safe, ballot box friendly Budget as expected with a focus on cost of living, homeownership, and health.
Collins HumeMar 28Immediate Deductions ExtendedThis measure enables an asset’s cost to be fully deductible upfront rather than being claimed over the asset’s life, regardless of the cost.
Collins HumeFeb 27Professional Services Firm ProfitsThe ATO’s finalised position on the allocation of profits from professional firms starts July 2022 with two gateway tests.
Collins HumeFeb 20PCR and RAT tax deductionsIf you have had to purchase RAT tests to be able to work, you will be able to receive a tax deduction for the cost from 1 July 2021.
Collins HumeJan 16‘Backpacker Tax’ and the High CourtThe High Court has ruled that the ‘backpacker tax’ is discriminatory. We look at the impact.
Collins HumeDec 15, 2021If Santa was an Australian tax residentA lighter look at the complexity of Australian taxation laws and the year that has been.
Collins HumeDec 12, 2021The top Christmas tax questionsEvery year, we get asked about the tax impact of various Christmas or holiday-related gestures. Here are your top issues.
Collins HumeNov 28, 2021Plan ahead to avoid a tax headache in the New YearMany employers are looking to bring a little bit of cheer to their employees this Christmas. Here's how not to let tax spoil the party.
Collins HumeNov 21, 2021Spotlight on overseas gifts and loansThe ATO is particularly concerned about schemes and arrangements designed specifically to circumvent Australian tax laws.
Collins HumeNov 14, 2021Video: Cryptocurrency and taxChristopher Atkinson discusses the latest guidance from the ATO in our video summary of the commonly asked questions about cryptocurrencies.