Our Recent Blogs
Loss carry back is now law
The re-introduced ‘loss carry back’ measure has also now become law, applying to income years starting on or after 1 July 2026.
$20,000 instant asset write-off made permanent
From 1 July 2026, the $20,000 instant asset write-off has been made permanent for small businesses.
ATO alert: $21 billion in lost super
The ATO is urging individuals to check whether they have lost or unclaimed super, with more than $21 billion waiting to be reunited with its owners.
Deductions for rental properties that double as holiday homes
The ATO has updated its guidance on rental property income and expenses from 1 July 2026, including for properties that are also used as holiday homes.
Card Surcharge Changes: What businesses need to know
From 1 October 2026, businesses can no longer add a separate surcharge for card payments, including eftpos, Visa, Mastercard and American Express. Merchant fees have not disappeared, so businesses must decide how those costs will be managed.
$1,000 standard deduction for work expenses
The ATO has recently updated its Employees guide for work expenses to remind taxpayers that the new $1,000 standard deduction cannot be claimed for the 2026 income year.
Payday Super and independent contractors
The ATO is reminding businesses that Payday Super changes when super contributions must be paid, not who is entitled to receive them.
Tips for meeting the Payday Super timeframe
Under Payday Super, contributions must be received by an employee’s super fund within seven business days after payday.
Tribunal rejects claims for self-education expenditure
The Administrative Review Tribunal recently rejected an employee's claims for self-education expenses, as they did not have a sufficient nexus with his current job and income-earning activities.
Tribunal decision regarding home office and car expenses overturned
The Full Federal Court recently allowed the ATO's appeal against an Administrative Review Tribunal decision that a taxpayer was entitled to claim deductions for home office and car expenses.
ATO wants businesses to review their GST turnover
The ATO has noticed some businesses have not updated their GST reporting and accounting methods after exceeding the relevant thresholds.
Division 7A benchmark interest rate
The ATO has published a Division 7A benchmark interest rate of 8.77% for the income year ending 30 June 2027, up from 8.37% for the previous income year.
ATO warning on property manager reports
The ATO is warning rental property owners that expenses shown in property manager reports may not always be classified correctly for income tax purposes.
New ATO guidance on “who is an employee?”
The ATO recently issued a ruling which explains when an individual is an 'employee' of an entity for pay as you go ('PAYG') withholding purposes.
Changes in reporting requirements for sporting clubs.
Not-for-profits ('NFPs'), including sporting clubs, societies and associations with an active ABN, need to lodge an annual NFP self-review return to continue accessing their income tax exemption.
Sale of land subject to GST.
The AAT recently held that the sale of land by a taxpayer was subject to GST, as it was a supply made in the course of an enterprise being carried on by the taxpayer.
Choosing the right PAYG instalment method.
The ATO advises that Pay as you go (‘PAYG’) instalments are calculated using either the instalment amount method or the instalment rate method. It recently provided the following two case studies to illustrate the two methods.
Different meanings of ‘dependant’ for super & tax purposes.
On a person’s death, their superannuation benefits can only be paid directly to one or more ‘dependants’ as defined for superannuation purposes, unless they are paid to the deceased’s legal personal representative to be distributed in accordance with the deceased’s Will.
Masters course fees not deductible as self-education expenses.
Case: The Administrative Appeals Tribunal (‘AAT’) has held that tuition fees for a public policy Masters course were not deductible, on the basis that the course did not relate to a taxpayer's work as a music teacher.
Proportional indexation of transfer balance caps from 1 July 2023.
The ATO reminds taxpayers that, from 1 July 2023, the general transfer balance cap will be indexed.
Individuals will have a personal transfer balance cap between $1.6 and $1.9 million, based on the highest ever balance of their transfer balance account between 1 July 2017 and 30 June 2023.