Mar 18, 2024 How much does negative gearing really cost the nation?
Since the government’s announced changes to the Stage 3 tax cuts to give lower income earners more benefits, the chorus of voices advocating for changes to other aspects of the tax system, such
Feb 13, 2024
Stage 3 tax cuts vs proposed changes
The talk about the stage 3 tax cuts has reached fever pitch in recent days. The changes were originally legislated by the previous government in 2019 with support of the then Labor
Jan 9, 2024
ATO areas of interest for the coming year As the year draws to an end, the focus of the ATO has moved to the 2024 year. At a recent conference, the Second Commissioner of Client Engagement, Jeremy
Jan 9, 2024
Holiday homes not genuinely available for rent
As the traditional holiday period approaches, many individuals may be heading to their holiday properties to celebrate with family or friends or letting their loved ones make use of the properties.
Dec 3, 2023
Deductions related to holding vacant land
Deductions for losses and outgoings that relate to holding vacant land on which there is not substantial and permanent structures in use or available for use has been denied since 1 July 2019.
Nov 15, 2023
Sharing Economy Reporting regime
The Sharing Economy Report Regime (SERR) has now commenced, for the 2023-24 income year. Only transactions for supplying taxi travel/ride sourcing and short-term accommodation need to be reported
Sep 4, 2023
Car expenses: using the cents per kilometre method
The cents per kilometre method is a simple way to work out how much you can deduct for car-related work or business expenses. Only individuals, including sole traders, or partnerships (where at least
Sep 4, 2023
Does GST apply to crypto-assets?
As digital currency becomes more common-place in a business context both in terms of trading and using such assets for payment in Australia, one question that commonly arises for those businesses
Sep 4, 2023 Tax Time 2023: lodgement period underway With only a little more than a month into tax time, the ATO has given the green light for taxpayers with uncomplicated financial affairs to lodge their returns. It
Jul 12, 2023
Budget 2023: What’s in it for me? On Tuesday, 9 May 2023, Treasurer Jim Chalmers handed down the 2023–2024 Federal Budget, his second Budget, which follows the October 2022
Jul 12, 2023
More ATO Data-Matching This Tax Time
Taxpayers beware, this tax time, the ATO will be using all its data-matching capabilities in multiple areas to ensure that individuals are paying the correct amount of tax. In addition to the
Apr 16, 2023
Bramelle Partners joins the IR Global Network
Bramelle Partners has been accepted to the IR Global network which provides Bramelle Partners clients with access to a multi-disciplinary professional services network that provides legal,
Apr 16, 2023
Cheaper childcare on the horizon
Families struggling with the current cost of living crisis could soon have some relief with cheaper childcare coming mid-year after the government passed child care subsidy reforms. This was a
Mar 13, 2023
Work from home expenses: new rate
With the expiration of the previous fixed rate method and the shortcut method for calculating the deduction for working from home (WFH) expenses, the ATO has released a draft guideline on the new
Feb 6, 2023
Beware of super schemes
The ATO is currently running a campaign cracking down on super schemes increasingly used by promoters to inappropriately channel money through SMSFs or provide an unfair tax advantage. Some of the
Feb 6, 2023
New year, new ATO scams
Money never sleeps, as the old quote goes, but it could apply equally well to scammers. As most people have let their guard down and are still recovering from their holiday excesses, scammers are
Jan 9, 2023
Looming changes for the BNPL market
The government has given the strongest indication yet that it will be seeking to regulate the Buy Now Pay Later (BNPL) market soon with the release of a consultation paper on the appropriate
Jan 9, 2023
Non-deductible threshold removed for self education
The government has reintroduced and passed a raft of measures that faced an uncertain fate when the House of Representatives was dissolved and the Senate prorogued due to the calling of the Federal