“The ATO has reminded business taxpayers they can no longer claim deductions for certain payments to workers if they have not met their PAYG withholding obligations from 1 July 2019…”
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“As the ATO's data-matching capabilities increase, they are paying close attention to capital gains made on shares, property and cryptocurrency…”
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“From 1 January 2020, eligible individuals with multiple employers can apply to opt out of receiving super guarantee ('SG') from some of their employers, to help them avoid unintentionally going over the concessional contributions cap.”
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“The ‘cents per kilometre’ method broadly allows an individual taxpayer to claim up to a maximum of 5,000 business kilometres per car, per year without the need to keep any written evidence (e.g., receipts) of car expenses.”
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“The Federal Court recently handed down two decisions relating to the personal services income ('PSI') rules. Income is classified as PSI when more than 50% of the income received under a contract is for a taxpayer’s labour, skills or expertise…”
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“The ATO will match the data provided by the State and Territory motor vehicle registering authorities against the ATO’s taxpayer records with the objective of identifying those who may not be meeting their registration, reporting, lodgment and payment obligations.”
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“The ATO has published some of the most unusual claims that they disallowed last financial year.”
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