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There has been a lot of media coverage recently around wage theft. Despite the name, wage theft isn’t always an easy thing to identify and can often be committed unintentionally by employers. There have been many cases over the...
Wed, 11 Aug 2021
Unfortunately for medicos who own rental properties, the Australian Taxation Office (ATO) is increasing audit activity on returns which include a rental property schedule. This follows a sample of tax returns for the 2018...
Tue, 10 Aug 2021
The Australian Taxation Office (ATO) has broadened data matching activities on lifestyle assets for the 2021 financial year through to the 2023 financial year. Which assets are included in the program? The ATO will acquire data...
Tue, 10 Aug 2021
Following the unveiling of the Federal Budget in May 2021, one of the biggest future changes to Australia’s tax system has gone largely unnoticed. The government intends to reinvent the rules for tax residency. While changes...
Tue, 10 Aug 2021
With the end of the financial year around the corner, the Australian Taxation Office (ATO) has already started signalling the deductions they will be reviewing on 2021 tax returns. So what is on their radar this year? Repeating...
Mon, 7 Jun 2021
This week's Federal Budget focussed on a number of extensions to existing concessions, changes to superannuation, and business investment benefits, along with a number of smaller measures. The key announcements which could...
Wed, 12 May 2021
Reclaim hours and streamline your bookkeeping process to have more time to do what you do best, run your business. Medical business owners are constantly juggling tasks from accounting and finance, to marketing and sales, to...
Tue, 20 Apr 2021
In March 2021 the Australian Taxation Office (“ATO”) released long awaited draft guidance for professionals, including those in the medical field.  Unfortunately, the revised draft guidance is likely to increase scrutiny...
Tue, 20 Apr 2021
One of the most common questions we receive from medical professionals who own a rental property relates to deductions for repairs and capital items. There are subtle differences between what each of these expenses are and how...
Tue, 20 Apr 2021