Cash and Hidden Economy

  In simple terminology Cash and Hidden Economy means that you accept/pay cash for selling/buying product or services and do not declare that income/expense on your tax return.   Do you run a pizza shop, café, grocery store, restaurant or any other business in which you accept cash at point of sales? Do you report […]

Home office deductions: ATO substantiation requirements.

ATO substantiation requirements

    Home office deductions: ATO substantiation requirements.   Home office expense claims are subject to the same general substantiation requirements as other deductions – that is, records must be kept for five years.   But in practice, full compliance with the substantiation rules may be difficult. It may be simple to keep a receipt […]

Employee or Contractor

    It is important to know the differences between an employee and a contractor (also called an independent contractor or sub-contractor) as this will affect employer’s responsibilities and obligations, such as paying superannuation contributions and withholding tax from gross payments.   A worker isn’t automatically a contractor just because they have an ABN with […]


ato scam alert

    ATO SCAM ALERT   SCAM watch is warning consumers to be aware of calls from scammers falsely claiming to be from the Australian Tax Office (ATO).     Scammers have recently been calling Australians telling them that there is a warrant out for their arrest. Scammers will ask you to call during office […]

Claiming Work Related Car Expenses

claiming work related car expenses

  Do you use your car for work related travel?   If you answered Yes to above question, then you must read this.   You can claim deductions for use of personal car if you use your car for work.   As of 2016 financial year only 2 methods can be used for claiming work […]

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