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  1. Jack Malarkey

    ATO: Low and middle income tax offset changes now law

    From the Australian Taxation Office’s Small Business Newsroom: Low and middle income tax offset changes now law 2 August 2019 You will be entitled to some of the low and middle income tax offset if your individual taxable income is less than $126,000. The maximum offset is $1,080 per annum...
  2. Jack Malarkey

    Watch out for ATO-impersonation scams

    Australian Taxation Office: Verify or report a scam Scams are designed to trick you into paying money or giving out your personal information. Reporting ATO impersonation scams If you have been affected by an ATO impersonation scam you can report it to us in various ways. Phone scams If...
  3. Jack Malarkey

    ATO: Do you believe in fair competition?

    From the Australian Taxation Office’s Small Business Newsroom: Do you believe in fair competition? 2 July 2019 Running a business takes a lot of hard work and dedication, and most people genuinely try to do the right thing. Businesses that don't do the right thing can gain an unfair...
  4. Jack Malarkey

    ATO: Cars and various tax thresholds

    From the Australian Taxation Office’s Small Business Newsroom: Cars and tax From 1 July 2019 the following car threshold amounts apply. Income tax There's an upper limit on the cost you use to work out the depreciation for the business use of your car or station wagon (including four-wheel...
  5. Jack Malarkey

    ATO: New (financial) year, new you!

    From the Australian Taxation Office’s Small Business Newsroom: New (financial) year, new you! 2 July 2019 As you gather your records this tax time, think about what has or hasn't worked well over the year. Make a new (financial) year resolution for your record keeping practices that's easy to...
  6. Jack Malarkey

    ATO: Running your small business from home?

    From the Tax Office’s Small Business Newsroom: Running your business from home? 2 July 2019 If your home is your main place of business, you may be able to claim the business portion of some of your expenses such as: electricity cleaning mortgage payments rent payments. It can be tricky...
  7. Jack Malarkey

    ATO: Earning income from ride-sourcing?

    From the Australian Taxation Office’s Small Business Newsroom: Earning income from ride-sourcing? 3 July 2019 Did you know, income earned from providing ride-sourcing services is assessable and must be included in your tax return? Whether you use a registered tax agent or prepare your own...
  8. Jack Malarkey

    ATO assesses taxi drivers at $1.30 per kilometre where proper records not kept

    Australian Taxation Office: Taxi cents per kilometre earnings rate The cents per kilometre earnings rate is the average amount of income earned by a taxi for the total kilometres travelled by the taxi in a year. The rate includes GST. It does not take expenses into account. It only measures...
  9. Jack Malarkey

    Tax cut package passed by the House of Representatives and the Senate

    Below is an overview from government relations firm Barton Deakin of the federal Government’s tax cut package, which is now awaiting Royal Assent after being passed by both the House of Representatives and Senate. The first stage of the tax cuts will affect tax returns now being lodged for the...
  10. Jack Malarkey

    ATO makes public statement about income tax and GST treatment of Uber’s ‘driver appreciation awards’

    The Australian Taxation Office has made the following public statement about the income tax and GST treatment of Uber’s ‘driver appreciation awards’: Uber 'driver appreciation reward' payments In April 2019, ride-sourcing platform, Uber, paid some of its drivers a 'driver appreciation reward'...
  11. Jack Malarkey

    ATO: Cash flow issues preventing you paying on time?

    From the Australian Taxation Office’s Small Business Newsroom: Cash flow issues preventing you paying on time? 7 June 2019 We understand that sometimes cash flow difficulties can prevent you from being able to pay your whole tax bill on time. When that happens it is important that you deal...
  12. Jack Malarkey

    ATO: Are your ABN details up to date?

    From the Australian Taxation Office’s Small Business Newsroom: Are your ABN details up to date? 7 June 2019 Did you know that you must update your ABN details when you become aware of changes? You can update your details by visiting the Australian Business Register (ABR) website. Keeping...
  13. Jack Malarkey

    ATO: Preparing for tax time

    From the Australian Taxation Office’s Small Business Newsroom: Ready, steady… 11 June 2019 The end of the financial year is just around the corner, but it doesn't have to be a race against the clock for your business. Whether you prepare your own return or use a registered tax agent, get...
  14. Jack Malarkey

    ATO: Take advantage of small business concessions

    From the Australian Taxation Office’s Small Business Newsroom: Take advantage of small business concessions 11 June 2019 Prepare for the end of financial year by making use of these small business tax concessions: Instant asset write-off Business assets purchased before 30 June may be...
  15. Jack Malarkey

    ATO: Work out what business expenses you can claim

    From the Australian Taxation Office’s Small Business Newsroom: Work out what business expenses you can claim 21 May 2019 You should apply these three golden rules when claiming business expenses to help get it right: The expense must have been for your business – not for private use. If the...
  16. Jack Malarkey

    ATO: Wondering what an input tax credit is?

    From the Australian Taxation Office’s Small Business Newsroom: Wondering what an input tax credit is? 3 May 2019 An input tax credit is also known as a GST credit. It's a credit you can claim for the amount of GST included in the price of goods or services (the inputs) you buy for use in...
  17. Jack Malarkey

    ATO: $30,000 instant asset write-off

    From the Australian Taxation Office’s Small Business Newsroom: $30,000 instant asset write-off 21 May 2019 Thinking of purchasing assets for your business? The instant asset write-off threshold has been increased to $30,000 and extended to 30 June 2020. If you purchase an asset (new or...
  18. Jack Malarkey

    ATO: ABN bulk cancellations

    From the Australian Taxation Office’s Small Business Newsroom: ABN bulk cancellations 2 May 2019 We will be conducting reviews on existing ABNs, which includes cancelling inactive ones. This helps to make sure the information on the Australian Business Register is correct and up to date. Your...
  19. Jack Malarkey

    ATO: Lodge online and get more time

    From the Australian Taxation Office’s Small Business Newsroom: Lodge online and get more time 2 May 2019 Most small businesses are eligible for an extra two weeks to lodge and pay their activity statement by lodging online. Depending on your business type, you have options for lodging...
  20. Jack Malarkey

    Private ruling request from ATO re GST treatment of Uber appreciation awards (bonuses)

    I have just made an application to the Australian Taxation Office for a private ruling on whether or not Uber’s appreciation awards (bonuses) are subject to GST. I will report back here when I receive a reply.
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