Entries by Tax Guy

Do you have overdue tax returns?

We have worked with hundreds of taxpayers with ovedue tax returns to lodge and they have all felt immensely relived from the first time they called us on 1300 829 489 or just filled out our tax agent appointment form. From the moment you fill out our tax agent appointment form, the ATO will know […]

Car and Travel costs focus of the ATO

Car and travel costs continue to be one of the largest categories of work-related expenses claimed by individuals (e.g., employees, sole traders, contractors). As a result, the ATO continues to focus on incorrect car and travel expenses, particularly where they involve travel between a taxpayer’s home and place of work. Generally, home to work travel […]

Increase in the Medicare levy low-income thresholds

The Government will increase the Medicare levy low-income thresholds for singles, families and seniors and pensioners from the 2017 income year. The threshold for singles will be increased to $21,655. The family threshold will be increased to $36,541 plus $3,356 for each dependent child or student. For single seniors and pensioners, the threshold will be […]

No deduction for travel expenses for residential rental properties

From 1 July 2017, the Government will disallow deductions for travel expenses related to inspecting, maintaining or collecting rent for a residential rental property. This is an integrity measure to address concerns that many taxpayers have been claiming travel deductions without correctly apportioning costs, or have claimed travel costs that were for private travel purposes. […]