Author Archives: RDL Blog Administrator

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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Scammers – as active as ever

The variety of scams designed to take money from the unwary is never-ending. The age old phone call claiming to be from the Australian Taxation Office and threatening jail for an unpaid debt is as popular as ever, with one … Continue reading

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ATO focus on income from car sharing services

The extra income earned by people taking part in car sharing services such as Car Next Door or DriveMyCar has come to the attention of the ATO. These car sharing services work by making private cars publicly available in a … Continue reading

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Ethical Investing

Ethical investing is rapidly gaining momentum, quadrupling in the last 3 years to approx. $622 billion. The UK and US have a sufficiently deep market to maintain a benchmark for ethical investments, unlike the Australian market which is still in … Continue reading

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Good news on Single Touch Payroll for “micro” employers

The ATO has recently confirmed that micro employers (i.e. those with less than 5 employees) will not need to purchase payroll software to enable them to comply with the Single Touch Payroll reporting obligations, which are due to commence on … Continue reading

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