by Investment Plus Accounting Group | May 31, 2025 | ATO, EOFY
As the 2025 End of Financial Year (EOFY) approaches, the Australian Taxation Office (ATO) is set to release its annual Tax Time hitlist, outlining key focus areas for audits and compliance checks. This list serves as a reminder for taxpayers to ensure accuracy and...
by Investment Plus Accounting Group | Apr 30, 2025 | ATO, Company car, Small Business, Tax Tips
Buying a car for business use can offer valuable tax deductions—but it’s not always straightforward. Understanding the rules around vehicle tax write-offs, depreciation, and GST is crucial to ensure compliance and maximise your savings. What Is a Business Car Tax...
by Investment Plus Accounting Group | Apr 6, 2025 | ATO, Small Business, Work from Home
The Australian Taxation Office (ATO) has quietly increased the fixed-rate deduction for people working from home. From 1 July 2024, taxpayers can now claim 70 cents per hour worked from home—up from the previous rate of 67 cents. This change will apply when lodging...
by Peter Ristevski | Mar 24, 2025 | ATO, Division 7A loans, Family Trusts
Since 16 December 2009, the Australian Taxation Office (ATO) has maintained the view that when a family trust appoints income to a corporate beneficiary (referred to as the beneficiary company) without making a payment, the unpaid present entitlement (UPE) constitutes...
by Investment Plus Accounting Group | Dec 21, 2024 | ATO, Finance, Finance and Loans, Investments, Property Investment, Property Investment Tips
The Australian Taxation Office (ATO) has heightened its scrutiny of certain businesses, particularly in the property and construction sectors, over concerns that they are claiming excessive debt deductions and shifting profits offshore. The ATO has specifically issued...
by Investment Plus Accounting Group | Nov 18, 2024 | ATO, FBT, Small Business Tips, Tax Deductions
As the festive season approaches, many businesses turn their attention to end-of-year celebrations, gifts, and other perks for employees. However, these seemingly cheerful expenses can raise questions when it comes to Fringe Benefits Tax (FBT) and tax deductions. How...
