30 June 2018 Tax

Compliance Activities by the ATO Will Increase in the 2018–19 Financial Year

As we approach the time to look at 2018 returns it is worthwhile looking at the Commissioner of Taxation’s Annual Report which was released by the Australian Taxation Office (ATO) for the previous year. A few key themes were evident in the report including the refinement of deductions being claimed, ongoing targeting of privately owned Read more…

Housing

Changes to Property Expense Deductibility One Step Closer

In early July, the Turnbull government released draft legislation and explanatory material for the housing affordability and tax integrity measures announced in the 2017-18 Budget, with submissions to the draft legislation closing on 10 August 2017. The proposed legislation means that property investors will no longer be able to claim travel expenses to inspect residential investment Read more…

Small Business Launceston

Huge Win For Small Business

The government’s move to legislate significant amendments to competition laws in a bid to deter anti-competitive conduct has been called a huge win, for small businesses in particular. The amendment will help address anti-competitive conduct and protect the competition process rather than the interests of individual players in the market. In mid-August the Competition and Consumer Amendment Read more…