What sharing platforms are sharing with the ATO
From 1 July 2023, a new reporting regime will require platforms that enable taxi services including ride sourcing, and short-term accommodation to report their transactions to the ATO each year.…
When is a side hustle a business?
The distinction between something you do on the side and carrying on a business can be a fine line. There is no one test for what determines whether you are…
How content creators are taxed
A new update released by the Australian Taxation Office (ATO) in April outlines the regulator’s expectations for how content creators will be assessed for tax purposes: Income tax on money, gifts and…
‘OnlyFans’ Tax Risk Warning
The explosion of OnlyFans, YouTubers, TikTokers and others all offer an opportunity for ‘content creators’ to profit from the audiences they generate. But now the Tax Office has given notice…
ATO Rental Property Blitz
The Australian Taxation Office (ATO) has launched a full-on assault on rental property owners who incorrectly report income and expenses. The ATO’s assessment, based on previous data matching programs, is…
Tax Time Targets for Individuals
Key tax time targets include: · Rental property income and expenses · Income and ‘gifts’ from online content creation (OnlyFans, YouTube, TikTok etc.,) · Cryptocurrency gains · Gig economy workers…
Getting Rental Properties Right
If you are earning income from an investment property, you can claim deductions for your expenses. These expenses fit into two categories; what you can claim now, and what is…
2023 Tax Savings For You
There are some simple things you can do to reduce your personal tax: · Claim the cost of working from home - If you work from home some days, keep…
2022 Tax Tips For Small Business
Common Tax Deductions for Small Business Are you claiming all the business tax deductions that you are entitled to? There are many expenses common to most small business, and there…
2022 Tax Tips For Property Investors
Income to Declare All income earned from each property must be declared. If you have multiple properties, keep the records for each property separate to make the tax return more…