Blog

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“Outrageous” Deductions Rejected

The ATO has published some of the most unusual claims that they disallowed last financial year. Nearly 700,000 taxpayers claimed almost $2 billion of ‘other’ expenses, but the ATO’s systematic review of claims had found, and disallowed, some very unusual…
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Motor Vehicle Registries Data Matching Program Protocol

The ATO will match the data provided by the State and Territory motor vehicle registering authorities against the ATO’s taxpayer records with the objective of identifying those who may not be meeting their registration, reporting, lodgment and payment obligations. Details…
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ATO Data Matching Program: HELP, VSL and/or TSL Debts

The ATO is conducting a data matching program for the 2019/20, 2020/21 and 2021/22 financial years to identify individuals with an existing Higher Education Loan Program (‘HELP’), Vocational Education and Training Student Loan (‘VSL’) and/or Trade Support Loans (‘TSL’) debt…
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ATO Rates and Thresholds

Editor: The ATO has updated a number of rates and thresholds on their website, including the following. Division 7A – Benchmark Interest Rate The Division 7A benchmark interest rate for the 2020 income year is 5.37% (up from the rate…
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FBT and Taxi Travel

Taxi travel by an employee is an exempt benefit for FBT purposes if the travel is a single trip beginning or ending at the employee’s place of work (or if it is a result of sickness or injury in certain…
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Private Health Insurance Statements Now Optional

Taxpayers with private health insurance should be aware that insurance providers are no longer required to provide statements to their members. Taxpayers lodging their tax returns using a registered tax agent should have their health insurance details ‘pre-filled’ into their…
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