Archive | News

The Tax Commissioner’s hit list

Every so often the Australian Taxation Office (ATO) sends a ‘shot across the bow’ warning taxpayers where their gaze is focussed. Last month in a speech to the National Press Club, Tax Commissioner Chris Jordan did exactly that. Part of the reason for this public outing is the gap between the amount of tax the […]

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What did I miss? 1 July changes

GST applies to digital products & services imported by consumers Small business $20k instant asset write-off extended until 30 June 2018 Company tax rate reduction to 27.5% for entities with an aggregated turnover of less than $25m (companies with a turnover of less than $10m have been subject to this tax rate since 1 July […]

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The changing Landscape of Self-Managed Superannuation Funds

Rules for Self-Managed Super Funds are constantly changing and updating. To learn more about the changing Landscape of Self-Managed Superannuation Funds, please follow the below the link to watch our latest video blog: https://youtu.be/BeA7_67_kGQ For more information on choosing the Administration Solution that is the right fit for your SMSF click http://www.atmconsultants.com.au/self-managed-super-fund/

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Why work-related travel claims are easy pickings for the ATO

The Australian Taxation Office (ATO) is on the warpath over work related travel expenses and is prepared to test the boundaries of claims in court. A recent case before the Administrative Appeals Tribunal (AAT) highlights many of the issues that commonly occur. In this case, a truck driver claimed large work related travel expenses over […]

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Why 90,000 more businesses can access the $20k instant asset write-off this year

The popular $20,000 instant asset write-off for small business ends on 30 June 2017. This concession enables small businesses to immediately write-off depreciable assets which cost less than $20,000. Until recently, this instant write-off was only accessible to businesses with an aggregated turnover of less that $2 million. But, a last minute deal struck between […]

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Superannuation Reforms on 1 July 2017 That might affect you

There are some significant changes to the superannuation rules coming into effect on 1 July 2017. Depending on your circumstances, there are several strategies that you might want to consider before 30 June. Here is a summary. If you want to maximise your super through Concessional Contributions (CC) – i.e. salary sacrifice or tax deductible […]

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State Tax Warning for Family Trusts

Recent changes to State laws may trigger a surprise tax bill for family trusts (discretionary trusts). The problem for family trusts stems from recent legislative changes in New South Wales (NSW), Victoria (VIC) and Queensland (QLD) that impose a surcharge on foreigners purchasing residential land. While that might not sound like a problem, the issue […]

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