Monthly Archives: November 2021

Self Education Expense Threshold to be Removed

The $250 non-deductible threshold for self-education expenses could soon be a thing of the past. The government is finally following through on its promise to remove the threshold with the introduction of a recent Bill into Parliament. Following the removal of the non-deductible threshold, individuals can continue to claim self education expenses if the expense […]

Directors of Private Companies: Tax Return Lodgement

ATO has flagged a trend of private company directors either not lodging their tax returns or not reporting the correct amount of income received from the company in their tax returns. It encourages those taxpayers to either lodge their tax returns by the deadline of 31 October 2021 or request an amendment to their existing […]

ATO Scrutinising Gifts or Loans from Overseas

Taxpayers that have received gifts or loans from overseas family and relatives beware. The ATO is currently scrutinising these types of transactions as it continues to encounter instances where Australian taxpayers have failed to declare offshore income or capital gains. Instead, the ATO says these capital gains or foreign income have been disguised as a […]

New Data Matching Program: Government Payments

Businesses that provide various services on behalf of the Commonwealth will be caught up in a new data-matching program designed to identify and address non-compliance with tax and super obligations. This program will obtain information from various government agencies including Comcare, Department of Education, Department of Health, and National Disability Insurance Agency in relation to […]

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