by Quinns_News | Mar 5, 2013 | Tax Advice and Updates
The ATO has a responsibility to ensure businesses and individuals adhere to their tax obligations. If you’re a small business owner, the prospect of an audit can be intimidating. Don’t panic, the key to surviving your business audit is to be prepared. When the ATO...
by Quinns_News | Jan 23, 2013 | Tax Advice and Updates
The ATO continues to identify people who deliberately avoid their tax obligations or who may not be declaring all their income. By obtaining data from the state and territory motor vehicle registering bodies, the ATO matches the data against taxpayer records to...
by Quinns_News | Dec 5, 2012 | Tax Advice and Updates
The law in regards to motor vehicle usage for work can be quite complex. Under certain circumstances you can claim a deduction for expenses that you incur in using your car for work. Regardless of what you may hear from friends and family, it is important to know you...
by Quinns_News | Oct 31, 2012 | Tax Advice and Updates
The Taxation Administration Act 1953 (TAA 1953) has been amended recently to provide the ATO with discretion to retain certain refunds to undertake integrity checks on claims. The amendment is outlined in section 8AAZLGA, which received royal assent on Wednesday 27...
by Quinns_News | Aug 22, 2012 | Tax Advice and Updates
Expenditure for repairs you make to your investment property may be tax deductible. However, the repairs must relate directly to wear and tear or other damage that occurred as a result of your renting out the property. Repairs generally involve a replacement or...
by Quinns_News | Mar 7, 2012 | Tax Advice and Updates
If you are an employer and have provided Fringe Benefits to employees over the course of the Fringe Benefits Tax year, from 1 April 2011 to 31 March 2012, you will be liable for FBT on those benefits. Eligible Fringe Benefits include: Allowing an employee to use a...
