Taxing unrealised capital gains a grave concern: Burgess
The SMSFA has renewed its call for a more equitable and less costly approach to the federal government’s proposed new tax on superannuation balances exceeding $3 million.
Australian Taxation Office (ATO) target areas for tax time 2023
The ATO has provided some insights to the areas it will be focusing on consisting of rental property deductions, work-related expenses, and capital gains tax.
Average ATO refund tumbles $430 compared to last July
Fewer taxpayers have raced to file an early return and the total paid out in refunds is already down by $1.7 billion.
Penalty amnesty tempts 7,000 small businesses back into tax system
UPDATED: This budget measure waives fines for late lodgment of income, BAS and FBT returns due during the pandemic.
Scammers continue to fleece unsuspecting victims
The scamming industry is creative – different opening lines via telephone and emails appear daily.
Any tax debts in arrears?
Small Business tax debt is estimated at $29m plus at 30 June 2022
New laws come into effect from July 1
These changes will affect almost everyone, including families, workers, business owners and retirees.
Five questions that indicate how financial literate you are.
Australia has a relatively high level of financial literacy when ranked globally. In a study of 140 economies, Australia ranked in the top 10 countries for financial literacy.
WORKING FROM HOME EXPENSES FOR 2023
If you performed some of your work from your home office during the 2022-2023 financial year, you may be able to claim a deduction for the costs you incurred, even if the space you used is not set aside solely for work-related purposes.