The Accounting Division Blog
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Government extends the instant asset write-off
The extension of the instant asset write-off for a further year is great news for small businesses who may be planning to purchase assets for
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Are you declaring your “odd jobs” income from gig economy sites?
“Gig economy” platforms like Airtasker are allowing Australians to earn some extra cash by completing a huge range of odd jobs – from gardening to
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14/10/2022: Affordable childcare measures coming soon
To fulfil its election promise, the government has recently introduced a Bill to make early childhood education and childcare more affordable through changes to the
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Beware of clothing deductions this tax time
Beware of work-related clothing and laundry expense claims this tax time, the ATO is cracking down on individuals making unsubstantiated and exaggerated claims. It has
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Payroll reporting: a touchy subject
If you are an employer the way you report payments, such as salaries and wages, pay as you go (PAYG) withholding and superannuation is changing
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21/10/2022: IGTO report on ATO handling of objections
The Inspector-General of Taxation and Taxation Ombudsman (IGTO) has recently released its latest report on the initial review of the ATO’s handling of objections by
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Non-commercial losses safe habour: natural disasters
Where an individual, either alone or in a partnership, carries on a business activity, the non-commercial loss rules generally apply to prevent losses from non-commercial
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Business cash payments on ATO’s radar
In this competitive economic environment some businesses are increasingly turning to cash payments to dodge their tax obligations. This is becoming such an issue that
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Cash payments limit coming soon
As a part of the crackdown on black economy, the Government is planning to introduce an economy-wide cash payment limit of $10,000. Any payments made
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Tax time focus on rental properties
Just as with previous income years, tax time 2022 is no different, the ATO has again cited rental property income and deductions as one of