Latest Blogs
What Records Do You Need to Claim Business Tax Deductions?
To claim deductions in your tax return for expenses incurred for business purposes, you need to have accurate records to substantiate your claims. Your records need to show how you worked out the business-use proportion of relevant expenses. Have a closer look the...
Claiming Expenses and GST Credits: Are You Entitled to Them?
ATO’s primary focus is on businesses that over-claim expenses and GST credits. They see small businesses claiming GST credits and expenses that they are not entitled to and that don’t meet the deductibility rules. To claim a business deduction, an expense should:...
Work-Related Travel You Can and Can’t Claim
What are transport expenses? Transport expenses or work-related travel expenses include the following: Car or motor vehicle expenses Ride-share, taxi, and ride-sourcing expenses Public transport fares, including train, bus, and ferry fares Fares for flights. What are...
Understanding Car Leasing and FBT
In this blog post, we’ll shed light on car leasing and FBT. Let’s start: How does FBT apply to leased cars? If you lease a car for your employee’s personal use, FBT applies. Car leasing is usually done via a novated lease in a salary sacrifice arrangement. The FBT...
When Do You Charge GST on Sales in Australia?
In this guide, you will learn when your sales are taxable and when to include GST in the price. Overview of taxable sales If you are a GST-registered business, you must charge GST on things you sell in Australia - unless that specific sale is GST-free or input-taxed....
Deductions for Home-Based Business in Australia
In this guide, we will discuss how you can claim deductions for home-based business expenses if you run some or all of your business from home. What is a home-based business in Australia? As the name indicates, a home-based business is where you set up a business in...
Treasury Laws Amendment Bill 2026: Key Tax and Tax Adviser Reforms
On 2 July 2026, the Government introduced the Treasury Laws Amendment (Strengthening Accountability for Tax Adviser Misconduct and Other Measures) Bill 2026. Key measures include: Schedule 1: Changes the Tax Agent Services Act 2009 to give the Tax Practitioners Board...
ATO Regulatory Update: Superannuation, GST, FRCGW and Fuel Tax
Transfer balance cap The ATO has released an addendum to LCR 2016/9 to: Further explain how proportional indexation applies to the transfer balance cap and superannuation income streams that are subject to a commutation authority. Clarify how general principles apply...
From the Regulators: AI Guidance for Tax Practitioners, Tax and Super Updates
TPB guidance on the use of AI The Tax Practitioners Board (TPB) has released guidance to help tax practitioners understand their obligations under the TASA Code when using AI to provide tax agent services. The TPB recognises that, when used in the right way, AI can...
Trusts and CGT Reform: What’s Changing and What to Expect
Consultation on discretionary trust reform The Treasury has released a consultation paper on the proposed 30% minimum tax on discretionary trusts, which was announced in the 2026-27 Federal Budget. The proposed measure will introduce a 30% minimum tax on discretionary...
Tax Deductions vs Tax Offsets: What’s the Difference?
Individuals who are not familiar with tax deductions and tax offsets might use these terms interchangeably. However, both work in different ways, so it’s essential to understand the difference between the two terms to make better decisions about your tax planning. ...
A Guide To Lodging The NFP Self-Review Return
How to lodge an NFP? If your NFP has an active ABN and is self-assessing as income tax exempt, you need to file an NFP self-review return by 31 October each year. If you don’t have access to online services for business, you can use the automated self-help phone...
Understanding STP Reporting Issues and Errors
In this guide, we’ll discuss common STP reporting issues and ways to fix them. General Reporting Issues Reporting Issue What you need to do You missed sending an STP report. Your employees will not see the right year-to-date amounts in ATO online services. You will...
Main Residence Exemption 6 Year Rule
In this blog, we’ll discuss capital gains tax on primary residence and the 6-year rule that applies when you move out, and how to add it to your tax return. CGT 6-year rule: How does it work? Generally, your main residence is exempt from capital gains tax (CGT). A...
Why Do I Owe Money On My Tax Return in Australia?
You might be wondering: why do I owe tax? Well, there are many reasons why you may receive a tax bill. In this guide, we’ll discuss the reasons for receiving a tax bill and common actions that you need to take. Understanding Your Tax Assessment The statement issued...
How Do You Claim Mobile Phone and Internet Expenses for Work?
What are the eligibility requirements to claim mobile phone calls and mobile internet? You are required to meet certain requirements to claim a deduction for mobile phone calls and mobile internet. Here are some conditions: Cost incurred while making phone calls or...
Vehicle Expenses: Parking, Tolls, Accidents, Licences and Fines
Can you claim parking on tax? You are eligible to claim a deduction for parking fees and tolls incurred when using your car or other vehicle for work-related purposes. You are not allowed to claim a deduction for parking at or near a regular place of work....
Understanding GST Rules for Second-Hand Goods
In this blog post, we’ll discuss how you can calculate and record GST on sales and purchases of second-hand goods. Here, the term ‘second-hand’ means ‘not new’ or ‘previously used’. Here are some goods that don’t come under the category of second-hand goods: Precious...
Personal Services Income: A Guide for Australian Businesses
What does PSI stand for? PSI stands for Personal Services Income. This is income generated primarily by your skills or efforts as an individual. What is personal services income? You receive personal services income, or another entity connected with you, which is...
Tax Time Guide: How to Declare Income From Your Investments
When should you declare investment income? You are liable to declare income you receive from investments and assets in your tax return. Investment income may include amounts from dividends, interest, managed investment trust, rental income, capital gains, and crypto...
ATO Tax Return Status Explained: What Each Status Means
Table of Content: Check progress of tax return How long does a tax return take in Australia? Why is my tax return taking so long? Check ATO tax return status What does balancing account mean? (in progress balancing account) What comes after balancing account ATO?...
Latest Tax Legislation Passed
Treasury Laws Amendment (Tax Reform No. 1) Bill 2026 Income Tax Rates Amendment (Tax Reform No. 1) Bill 2026 The Treasury Laws Amendment Bill 2026 and the Income Tax Rates Amendment Bill 2026 have passed both Houses of Parliament, with several amendments, and have...
ATO Releases: Rulings, Determinations and Draft Guidance
Reasonable travel and overtime meal allowance amounts for 2026-27 TD 2026/4 has been released by the ATO, which sets out the amounts that it considers reasonable for the 2026-27 income year in respect of the substantiation exception for overtime meal allowance...
From the Regulator: Latest ATO Updates for Tax Practitioners
From the Regulator FTC calculator The ATO updated its Business Activity Statement (BAS) fuel tax credit (FTC) calculator to reflect the new FTC rates due to the temporary fuel excise reduction. The reduction was made to the fuel excise on petrol and diesel by 60.9%...
Australian Tax Reform Update: What You Need to Know
From the Government Tax reform legislation passed Treasury Laws Amendment (Tax Reform No. 1) Bill 2026 and the Income Tax Rates Amendment (Tax Reform No. 1) Bill 2026 received Royal Assent on 26 June 2026, and are now law. This means that the replacement of the CGT...
Tax-Free Threshold: Multiple Jobs or Job Change
Your Income and the Tax-Free Threshold You may receive income from one or more payers simultaneously. Payers include government agencies, employers, or your work as a sole trader. You can claim or not claim the tax-free threshold ($18,200) on the income you receive....
Taxable Payments Annual Report: Who Needs to File and When
Government entities and businesses making payments to contractors are required to report these payments and file a Taxable Payments Annual Report (TPAR). Contractors can include consultants, subcontractors, and independent contractors. They can work as sole traders,...
PRRT Lodgment, Reporting, and Payment Guide
Obligations for PRRT Entities Under the petroleum resource rent tax, an entity may have a lodgment, reporting, and payment obligation with an interest in a petroleum project. For instance, an entity is required to file quarterly instalment statements and an annual...
ATO Business Registration Guide for New Entrepreneurs
If you run your business in Australia, you may need to apply for an Australian Business Number (ABN), a Tax File Number (TFN), and register for other taxes. You may have to register for goods and services tax and other taxes based on the type of business you are...
Do You Want To Claim The Tax-Free Threshold From This Payer?
What is a tax-free threshold? The tax-free threshold refers to the income amount you earn before paying tax. Most Australian residents are liable to claim a tax-free threshold on the first $18,200 of the income they earn in the income year. By claiming the tax-free...