Author Archives: RDL Blog Administrator

ATO ruling on FBT for religious practitioners now finalised

Organisations operating as religious institutions will be interested to note that the ATO ruling on FBT for religious practitioners has now been finalised. It was released on 19th June 2019 as TR 2019/3. The final ruling appears to be largely … Continue reading

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Single Touch Payroll – Will you be ready?

For employers with less than 20 staff, Single Touch Payroll (STP) is just around the corner. While initially intended to begin on 1st July 2019, the ATO has allowed such employers to begin any time before 30th September 2019. A … Continue reading

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Sweeping Changes to Insurance through Superannuation

A recent important legislative change that received Royal Assent and takes effect from 1 July 2019. This change relates to insurance held through superannuation (other than an SMSF or small APRA fund), where the member is deemed to be “inactive”. … Continue reading

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Curtain soon to fall on Medical Expenses claims

The Federal government has been phasing out the Medical Expenses tax offset, which entitles individuals to a tax reduction of either 10% or 20% (depending on the individual’s income level) of the amount paid for medical expenses above a certain … Continue reading

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Rental property deductions in the ATO sights

Recent audit activity by the ATO has led the regulator to conclude that there are significant errors in claims being made by taxpayers against rental income. The ATO’s audit work on over 300 taxpayers found that there were errors in … Continue reading

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Single Touch Payroll deferred to 1/7/2020 for closely held payees

The ATO has announced a helpful concession on the Single Touch Payroll (STP) obligations for payments made to “closely held payees” (essentially owners and family members). In recognition of the fact that business owners and their families often classify what … Continue reading

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Tax relief for benefits provided during emergencies

The recent spate of fire and flood that has hit Australian states has caused devastating loss to many people. If your business assists employees during such an emergency, fringe benefits tax is unlikely to apply to the assistance you provide. … Continue reading

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Small business immediate asset write-off extended

The federal government yesterday announced proposed enhancements to the instant asset write-off, extending the period of application by a further 12 months to 30th June 2020, and the level at which it cuts out from $20,000 to $25,000. This scheme … Continue reading

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Developers hit with GST credit delays

The ATO has recently issued information to help property developers claim GST remitted on their behalf to the ATO by purchasers. Since 1st July 2018 all purchasers of new residential property have been required to retain the GST portion of … Continue reading

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STP gets the green light for smaller employers

Legislation to apply the Single Touch Payroll (STP) system to small employers (those with 19 or fewer employees) has finally been passed by the Senate. This has created a passage for the STP system to come into operation for such … Continue reading

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