SMSFs acquiring assets from related parties
SMSFs cannot acquire an asset from a 'related party' (such as a member or their spouse or relative) unless it...
21 August, 2024
Blog
Importance of good record keeping when claiming work-related expenses
The ATO is advising taxpayers that having records to substantiate claims is essential to prove deductions can be claimed, having...
21 August, 2024
Notice of online selling data-matching program
The ATO will acquire Australian sales data from online selling platforms for the 2024 to 2026 income years, including full...
15 August, 2024
ATO’s tips for correctly claiming deductions for rental properties
Taxpayers who have work done on their rental property should consider the following factors in determining claims for expenses. Repairs and...
15 August, 2024
ATO may cancel inactive ABNs
The ATO regularly reviews, and sometimes cancels, inactive Australian Business Numbers ('ABNs'). The ATO may review a taxpayer's ABN if...
15 August, 2024
ATO’s ‘main residence exemption tips’
The main residence exemption needs to be considered in a variety of situations when a taxpayer sells a property they...
15 August, 2024