ATO Concerns on Luxury Car Tax
December 17, 2021
The ATO has issued an alert warning taxpayers that it is investigating certain arrangements where entities on-sell luxury cars without remitting the requisite luxury car tax amount. This applies to those selling luxury cars in the ordinary course of business in any structure (ie company or sole trader), as well Read More...
Up and Coming Changes to Super
December 10, 2021
Recently, a number of significant super changes has been introduced into Parliament as a part of the government’s plan to enhance super outcomes for Australians. If passed, the changes will allow individuals aged between 67 and 75 to make non-concessional contributions and salary sacrifice super contributions without meeting the work Read More...
Data-matching: Medicare Exemption Statement
December 3, 2021
ATO has announced the extension of its Medicare exemption statement data-matching program. This program has been conducted for the last 12 years and has been extended to collect data for the 2021 through to 2023 financial years. It is estimated that information relating to approximately 100,000 individuals will be obtained Read More...
Self Education Expense Threshold to be Removed
November 26, 2021
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 Read More...
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