Tax Office Hunts for Undeclared Income

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Assistant Commissioner, Kath Anderson, says the ATO is looking for income from second jobs and capital gains on cryptocurrency. Australians leaving cash payments and foreign income off their annual tax return face being caught through new data-matching technology deployed by the Tax Office. Part of efforts to recover an annual shortfall of up to $1.4…

5 Smart things to do with your Tax Refund

If you’re looking at a tax refund this year, then you’ve probably already thought of dozens of ways to spend it. From holidays to a new car, it’s easy to get caught up in a buying frenzy when confronted with a large sum of money received in a nice single payment. Before you burn through it…

Tip Tuesday: Accounting for Start-Ups

If you’re in a startup, it can be an exciting world of creativity and innovation. But while it’s great to do something you love, you also need to make a living. So how can you live the dream and ensure your cashflow is well managed? In this article, a representative from third-party Pinterest marketing solution Shareroot talks…

‘Biggest Ever’ ATO Deductions Campaign

The ATO has kicked off its taxpayer-focused tax time education campaign, with a series of tailored emails to tax agents and self-preparing taxpayers as it seeks to clamp down on work-related deductions. The tax office has sought to raise awareness of the myDeductions tool in the ATO app to “save hours of work at tax…

Boost your Tax Refund this Financial Year

June 30 is rapidly approaching, which means there are things you should do in the near future to improve your financial situation. Smart tax planning means deferring income while bringing forward expenses. For example, if you have money to spare, think about placing it in a term deposit with the interest maturing after June 30.…
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