by Camden Professionals | Mar 24, 2023 | ATO, How To, Income Tax Returns, Small Business, Superannuation, Tax Deductions, Work from Home
The Australian Taxation Office (ATO) has updated its approach to how you claim expenses for working from home. The ATO has ‘refreshed’ the way you can claim deductions for the costs you incur when you work from home. From 1 July 2022 onwards, you can choose either to...
by Camden Professionals | Mar 24, 2023 | ATO, Property Investment, Property Investment Tips, Property Tax, Tax & Accounting
Taxpayers claiming deductions on holiday homes are in the ATO’s sights. The ATO is more than a little concerned that people with holiday homes are claiming more deductions than they should and have published the starting questions they will be asking to scrutinise...
by Camden Professionals | Feb 6, 2023 | ATO, Business, Company Directors, Loans, Tax & Accounting
An area that often gets small and medium sized private companies into hot water is the blurred line between the company’s money and the owner’s money. This is an area taxpayers often tend to get wrong and the ATO pays particular attention each year to this issue....
by Camden Professionals | Nov 4, 2022 | Announcements, ATO, Tax & Accounting
Australians owe almost $45 billion in unpaid taxes – and the tax office is coming to collect. Collectable debt rose by 69 per cent to $44.8 billion in 2021/22, from $26.5 billion in 2019 before the COVID-19 pandemic hit. Following in from the recent budget, the...
by Camden Professionals | Sep 16, 2022 | ATO, Cashflow, Government Support, Small Business
The Government has reinvigorated the 120% skills training and technology costs deduction for small and medium business. The proposal was previously included in the last budget and the new Labor government has adopted this scheme. Eligibility Two schemes will be...
by Camden Professionals | Sep 8, 2022 | ATO, Capital Gains Tax (CGT), Cryptocurrency
More than 1 million Australians own cryptocurrency, and the Australian Taxation Office has them in its sights and knows about your crypto assets. 5% of Australian adults own at least one cryptocurrency, while more than one in 10 Australians under 35 hold assets such...
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