Oceania Public Accountants - Yanchep

21/08/2023

Thousands of sole traders unwittingly put their family assets at risk, warns Worrells principal. Thousands of sole traders risk their family assets by ignoring tax debts and the ATO is now moving qu

21/08/2023

The office says it will penalise failure to meet the TPAR deadline and use data from the system to expose the shadow economy. The ATO has drawn a line in the sand for reporting contractor payments and

05/07/2023

“The revised fixed rate method has increased from 52 cents to 67 cents per hour worked from home, and you no longer need to have a separate home office or dedicated work-space – if you are working from the couch, you can still use this method,” Mr Loh said.
He also reminded those looking to claim bills such as electricity and gas as part of working from home that they need to keep evidence of the expenses such as a monthly or quarterly bill.
“Keeping the records you need to use this method is really simple – records of hours worked from home can be in any form, for example timesheets, rosters, or a diary of the full year,” said Mr Loh.
“If you’ve used your phone and electricity when working from home, you just need at least one bill for each of these expenses.”

Those with work expenses included in their deductions have been cautioned against copying last year's return with changes made to the deductions.

04/07/2023

The tax office said to ask a tax professional or its virtual assistant ‘Alex’ rather than call the body during its busiest time of the year.

12/04/2023

Alarm bells in the media could mean angry clients so tax agents need to explain the change or risk being a target.

23/02/2023

08/06/2022

23/05/2022

A few important payroll changes from 1 July 2022.

From 1 July 2022, there will be changes to how you manage payroll for FY23. Here’s what you can expect and what you need to do about it.

18/05/2022

💻📈 Do you invest in crypto assets?

If you’ve sold, transferred or swapped crypto assets this income year, you’ll need to work out if you’ve made a capital gain or loss.

You can make it easier by keeping track of:
📅 the dates of your transactions
💰 their values in AUD
🧾 receipts
🗒️ details of any other costs.

To find out more, visit www.ato.gov.au/general/gen/tax-treatment-of-crypto-currencies-in-australia---specifically-bitcoin/?page=4

06/05/2022

We’re asking the community to be on the lookout for online ads that show you how to get a GST refund, even when you don’t own a business.

Read our latest release to find out more at www.ato.gov.au/Media-centre/Media-releases/ATO-warns-community--do-not-engage-in-GST-fraud/