Newsletter

The Australian Taxation Office (ATO) is targeting home office expenses and has identified a high number of mistakes in this area. The common mistakes identified by the ATO are taxpayers claiming expenses they didn’t incur, claiming expenses that were reimbursed by their employer, claiming private expenses and not retaining sufficient records.

From 1 July 2018, if you are 65 years old or older and meet the eligibility requirements, you may be able to choose to make a downsizer contribution into your superannuation of up to $300,000 from the proceeds of selling your home. If you sign a contract prior to 1 July 2018 you will not be eligible.

Peer to peer car sharing is the process whereby existing car owners make their vehicles available for others to rent, hire or share for short periods of time.

The ATO (Australian Taxation Office) has issued a warning about a new scammer method targeting taxpayers. The new method had the fraudsters coercing the victim into revealing their tax agent's name, initiating a three-way telephone conversation between the scammer, the victim, and another scammer impersonating the victim’s tax agent or someone from the tax agent's practice.