Superannuation tax offsets you may be able to use

Tax offsets (sometimes referred to as rebates) directly reduce the amount of tax payable on your taxable income. In general, offsets can reduce your tax payable to zero, but on their own they can't get you a refund. There are two superannuation-related…
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The new “consumer” rules for GST and online purchases

Australians have been taking full advantage of the offerings on the digital marketplace with gusto for years now, but it has only been relatively recently that the rules for goods and services tax (GST) have caught up. With the purchase…
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Alternatives to a tax invoice for certain GST credit claims

Tax invoices are an essential element of Australia’s taxation system, and serve both to collect taxation revenue related to the goods and services on which GST is levied as well as record the credits that are claimable by eligible businesses. A business…

Selling taxable Australian property? You may need a clearance certificate from the ATO

If an Australian resident is considering selling property, they should apply for an ATO clearance certificate. If a property vendor does not apply for a clearance certificate and present it to the purchaser, the purchaser is required to withhold…

Here’s what attracts the ATO’s attention about luxury car tax

The ATO has announced that it has identified some common errors regarding luxury car tax (LCT) claims, but also says there are issues it has identified with LCT that are more associated with actively trying to pay less tax than required. Common errors Some…
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Six ways to work remotely and stay productive

As our organisations come to terms with the COVID-19 situation, there are an increasing number of us who will be working remotely at least some of the time over the next weeks or months.  Many in the accounting profession will have worked…