Blog
- 25 February 2012
Data Matching Program – Motor Vehicles
The ATO will be collecting details of ownership of vehicles purchased to the value of $10,000 or more during the period 1 July 2010 to 30 June 2011 from motor registries throughout the country. They will then use this information to improve compliance with tax obligations. This may highlight tax payers who have under reported their [...]
- 11 February 2012
Data Matching Project – Pleasure craft
The ATO will be matching the ownership of pleasure craft to approximately 110,000 marine insurance policies they have abtained. Craft with an insured value of $25,000 and more will be used as an indicator of whether the taxpayer’s tax affairs should be reviewed under the high wealth or wealthy individuals Australian program.
- 25 September 2011
ATO Help For SME’s With Financial Difficulties
The ATO is offering help to viable businesses having trouble meeting their tax payment obligations. This includes: remission of general interest charge (GIC) GIC free payment arrangements for activity statement debts and flexible payment arrangements aligning with the business’ cash flow To qualify, a business must: have an annual turnover of less than $2 million activity [...]
- 21 July 2011
Occupations under the spotlight – 2011 Tax Returns
The ATO will be paying close attention to work related expenses claimed by individuals employed as: earthmovers flight attendants carpenters and joiners and real estate agents The ATO has found that these people tend to over claim expenses relating to motor vehicle and travel expenses.
- 21 July 2011
Super – Concessional Contributions Caps 2011/12
Concessional contributions include employer contributions and personal contributions claimed as a tax deduction by a self-employed person. For those less than 50 years of age, the cap is $25,000. For those 50 to 74 years of age, the cap is $50,000.
- 21 July 2011
Flood Levy Exemption
Flood Levy Exemption. Employees affected by a natural disaster can be exempt from paying the flood levy. Where more than $50,000 has been earned in salary and wages, the Flood Levy Exemption Declaration form (NAT 73797) can be downloaded from the ATO’s website and provided to their employer. The flood levy will then not be [...]
