Middle Aged Woman Reading Letter concerned

Blog | ATO’s ominous “data matching” letters, what to do if you get one!

Australian taxpayers unlucky enough to receive one of the ATO’s ominous “data matching” letters this year are being urged to act quickly or face being thousands of dollars worse off. The tax man uses sophisticated technology to sift through mountains of data from third-party institutions such as banks to sniff out whether any information, such…
Middle Aged Couple looking at legal paper and laptop regarding their trust fund

Blog | Who Owns the Assets of a Trust?

It’s not uncommon for people to put assets such as their family home into a trust, particularly professionals working in litigious fields or family groups wanting to protect assets. A recent case highlights some of the tax problems that can occur. The taxpayer in this case had become the owner of their main residence as…

New Laws for Super, Insurance and Exit Fees

From 1 July 2019, new laws commenced preventing superannuation providers from eroding member balances with unwanted or unnecessary insurance and exit fees. Plus, inactive accounts with low balances are now moved to the ATO to try and unite the unclaimed super with its owner. These changes do not apply to self-managed superannuation funds or small...
Tips to Help Rental Property Owners Avoid Common Tax Mistakes

Tip Tuesday | Top 10 Tips to Help Rental Property Owners Avoid Common Tax Mistakes

  Whether you use a tax agent or choose to lodge your tax return yourself, avoiding these common mistakes will save you time and money. Apportioning expenses and income for co-owned properties If you own a rental property with someone else, you must declare rental income and claim expenses according to your legal ownership of...
100 dollar notes on washing line

Laundry Expenses Hung Out To Dry

  The ATO is airing the ‘dirty laundry’ on work-related clothing and laundry expenses warning that it is closely reviewing claims. “Last year around 6 million people claimed work-related clothing and laundry expenses, with total claims adding up to nearly $1.8 billion. While many of these claims will be legitimate, we don’t think that half...
Man phoning tax cheat hotline

60, 000 Tax Cheat Tip-Offs

  Tip-offs to the Australian Taxation Office (ATO) have reached an all-time high with close to 60,000 tip-offs received between June and May 2019 – almost double the number of the previous year. The ATO thinks the number of tip-offs will reach around 70,000 for the full financial year. Common problem areas that people feel...
Desk calendar with July 1st

Superannuation Changes Coming July 1st

  An alarming stat shows how many Australians have no idea about a major change coming on July 1. And it could leave you without life insurance. Australians could be left stranded without life insurance on July 1 when a little-known but significant change to superannuation is enforced. Most are unaware their superannuation has a...
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