Tax evasion alert
Do you have concerns abouth your tax affairs? Did you know that in 2010/2011 financial year there were over 1,518 tax fraud convictions, with fines totalling more than $7 Million!
Is your business benchmarked?
The Australian Tax Office has added over 100 industries to their small business bechmarks, including the latest income tax and activity statement information. Use the benchmarks to check how your business is performing. Benchmarks are used by the tax office to detect businesses that may be avoiding paying their fair share of tax.
Mid Year Tax Planning
One thing is certain - when it comes to planning for taxation, the more things change, the more they stay the same. Steps taken by the Government to simplify taxation in one area invariably leads to complications in another. The new carbon tax is a perfect example.
Beware of tax related email scams
The ATO are seeing noticeable spikes in scam activity during tax time, so it is important to be vigilant in maintaining the security of your information.
Are you buying, selling, renting or building a property?
The tax office has created a new consolidated property page on their website to provide a range of property tax-related information.
Post before the due date
Allow sufficient time for your Activity Statement to arrive by the due date.
Why use a CPA specialist?
CPAs are leaders in business, finance and accounting advice. The right to use the CPA designation is only given to degree-qualified professionals who have undertaken rigorous and comprehensive postgraduate study, the CPA Program....
Want to make your business more profitable?
Tips to help small business owners plan for a more profitable 2011/2012 financial year
End of year tax tips 2011
Do you have a net gain or loss on the sale of shares, property or investments during the 2010/2011 financial year? Then Capital Gains Tax may apply.....
Letter from ATO Commissioner regarding delays of processing your tax returns
The Commissioner has issued a letter to people who may have been impacted by delays in receiving their tax refunds since 1 July 2010. Please read a copy of this letter
ATO processing of 2010 tax returns slow in July
The ATO has issued a statement regarding the processing of 2010 tax returns for July and the beginning of August. They have told us that....
Checklists for Business Financial Statements and Tax Returns
Not quite sure what you need to bring to your accountant each year? We have the solution...
Make sure you are able to substantiate your Work Related Expenses claims this year.
I was talking to a Tax Office...er Officer recently, and he advised the ATO would be coming down this way this year and looking closely at the claims people make in their Work Related Expenses section of their tax return.
Do you have income or assets offshore?
Some Australian Residents don't realise that they must include overseas income and the profits from the sale of any assets in their Australian income tax returns.
Tax Tips for Property Owners
Tips to help you save tax if you have an investment property or 6.
Budget 2010
Treasurer Wayne Swan presented the 2010 Budget, with very few additional changes to the tax system that had already been previously announced.