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Are you selling a property over $750,000 AUD?
FROM July 1, Australian homeowners offering properties above $750,000 will be required to obtain a clearance certificate from the Australian Taxation Office (ATO) to prove they are not foreign residents before they sell.
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UberEATS & Deliveroo under the spotlight
The ATO has confirmed that people who make money out of delivering for popular online meal ordering and delivery platforms such as UberEATS and Deliveroo will not have to register for and pay GST, unlike their counterparts at Uber, if they fall under the GST threshold.
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ATO increases Late Lodgement Fines
The 2018 May budget included many notable and highly publicised tax amendments that impact almost all Australians. Little attention has been paid to the fact that the Commonwealth penalty unit increased from $180 to $210.
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Fuel tax credits rates increased from 1 August 2017
Fuel tax credits have increased for fuel acquired after 1 August 2017, in accordance with the CPI increase. These rates are indexed twice a year.
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Foreign investors to pay more land tax and stamp duty
Recent announcements of 2017/18 state budgets in New South Wales and Queensland have changed the landscape for foreign investors of residential real estate.
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Small Business Disaster Relief Government Loans
As Australia takes stock after Ex Tropical Cyclone Debbie both the Queensland & New South Wales governments have published details of their small business support packages.
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ATO attempts to squash the Hilux & Co
The ATO confirmed in a recent Private Binding Ruling that any consistent private use of SUVs or utility vehicles is a residual fringe benefit.
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Cash business ATO crackdown
Businesses operating in the cash economy will get increased scrutiny in the coming months. The ATO has been sending officers to visit businesses in all capital cities in industries notorious for not declaring all income in tax returns and BASs.
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