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Articles in this edition:-
Federal Election Called!
2019/20 Budget Update
New industries entering the taxable payments reporting system
Scammers impersonate ATO phone numbers
FBT issues on the ATO's radar
FBT: Record-keeping exemption threshold
FBT: Benchmark interest rate
REMINDER - 2019 Tax Planning

  • Increased scrutiny of home office claims
  • More help for drought-affected farmers
  • Increase in Private Health Insurance excesses
  • Legislation to combat illegal phoenix activity
  • Lodgement/Payment Reminders

Parliament has passed the Government's Personal Income Tax plan, meaning that the first stage of the proposed income tax cuts will start to take effect from 1 July 2018. 

  • GST withholding measures now law
  • Continued ATO focus on holiday home rentals
  • Get ready for Single Touch Payroll
  • Employee denied deductions for work-related expenses
  • New FBT rates for the 2018/19 FBT year
  • Lodgment/Payment Reminders

Uber is looking for more drivers and Airbnb is seeking more hosts, but what are the implications of becoming part of this new ‘sharing’ economy’?

According to the Assistant Commissioner of Taxation, Tom Wheeler, over 400 small to medium sized enterprises are about to receive a visit from the ATO as part of a crackdown on cash based businesses.