You may have heard that ATO data matching technology is now being used in Australia. The ATO launched the system to find missing income from individual tax returns. It’s a new, more sophisticated way to collect more tax from taxpayers who may, either accidentally or deliberately, understate their income. What is ATO Data Matching? ATO […]
Australians Think the Wealthy Should Pay More Tax
The majority of Australians appear to feel that the wealthy should pay more tax. 60% of respondents in a recent ACTU survey support raising taxes for Australia’s highest income earners. Major findings of a recent ACTU study include: Support for raising taxes for people who earn more than $200,000 per year. Support for cutting taxes for […]
Bankers Call for Tax Cuts for Parents
The government’s October tax forum is fast approaching. Industry body, the Australian Bankers Association (ABA) has called for increased tax cuts for parents. Also, the simplification of complex taxes at both a State and Federal level. Help and Tax Cuts for Parents In the ABA’s eyes, the biggest concerns everyday Australians are currently faced with is […]
Private Health Rebate: How does it impact my Private Health Insurance?
The private health rebate is a percentage of the total premium amount which can be applied as a reduction to your health insurance premiums or it can be applied as a refundable tax offset come tax time. What impacts my private health rebate? Your rebate is calculated based on your living status, age and income […]
ATO tax payer investigation: 10 million taxpayer records under scrutiny
The latest ATO investigation will see the financial records of over 10 million Australian taxpayers go under the microscope. What is the latest ATO Taxpayer investigation looking for? Here are a few highlights in the latest ATO Investigation: How do I avoid an investigation? If you’ve correctly declared all of your income and expenses then you […]
Tax Information for People Affected by Natural Disasters
Natural disasters take an incredible toll emotionally, physically and financially. In times like this, it’s vital to know your entitlements and where you can go for help. If a natural disaster has affected you or a loved one, please read our guide below for assistance. Need more time to lodge, pay or respond to the […]
ATO to Share Bank Account Details with Overseas Governments
The ATO will share people’s bank account details with other governments and automatically detect overseas bank accounts to reveal tax evasion In a move aimed to find taxpayers who do not declare income or savings in different countries, the ATO will join tax departments world-wide to share taxpayers’ overseas bank account details. The ATO will […]
Australian Tax Deadline – October 31
The tax deadline for lodging Individual Tax Returns each year is October 31st Beating the tax return deadline takes just a few minutes, with live online support to make it easy. Get Started NowReturning Users Login To lodge your 2025 tax return now, follow these easy steps: What happens next? After you sign your return, […]
Investment property tax deductions under the ATO spotlight
Australian investment property owners may be on a collision-course with the Australian Tax Office (ATO) in 2025, over incorrect claiming of tax deductions. Along with the rising cost of living and borrowing rates in Australia, the estimated 1.7 million people who own a rental property will also have their investment property tax deductions put under […]
myGov vs Etax vs tax agent office
“What’s the best way to do my tax return?” Let’s compare myGov, Etax and other tax return options: What’s the best one for you? The ATO advertises a tax system called myTax, which is inside the myGov website – and it’s one way to lodge your tax return. As a taxpayer, it is hard for […]
Motor Vehicle Data Matching in Full Swing at ATO
In its crusade against what they call the cash economy’, the ATO has announced plans to collect the details of all individuals and businesses that have purchased or acquired a vehicle where the transfer and/or market value is $10,000 or greater in the 2011-12 and 2012-13 financial year. This involves computerised “motor vehicle data matching” […]
New carbon tax had no effect on inflation
Private analysts TD Securities-Melbourne Institute’s inflation gauge rose 0.6 per cent during August. But, according to their head of Asia Pacific business, Annette Beacher, this was not due to the introduction of the Carbon Tax. A few goods and services increased in price during August which contributed to the 0.6% increase, however there were also […]
Don’t Be Afraid of the ATO at Tax Time
At the National Press Club, ATO commissioner Chris Jordan spoke about a change in tactics at the ATO, with a greater focus on work related deduction claims by individuals, representing $22 billion worth of claims made each year. He said a substantial portion of those claims are ‘mistakes’ or ‘fraud,’ although he did not discuss […]
Tax Bracket Creep in Australia: What Is Bracket Creep, And How Does It Affect You?
Bracket creep is a situation in Australia where inflation and wage increases push more and more people into higher tax brackets. The result is that income tax takes more and more of people’s earnings, even though the Government did not formally raise tax rates. Let’s dig into the concept of bracket creep, its impact on […]
GST changes may impact your overseas online shopping
The Australian Government is attempting to level the playing field between Australian and overseas retailers with proposed GST changes effective from 1 July 2017. Here’s what you need to know. Australians are increasingly turning to overseas sellers when they shop online to access cheaper prices and a larger variety of goods and speciality items. The government […]
