Tribunal Decisions uphold ATO stance on GST and UPEs
The AAT rejected a taxpayer’s late input tax credit claim, while the Full Federal Court upheld a decision that unpaid present entitlements (UPEs) are not considered loans for Division 7A purposes.
2025-26 Federal Budget Summary
The 2025–26 Federal Budget outlines personal tax cuts, student debt relief and housing measures with minimal changes for small businesses and super, many of which remain uncertain pending the outcome of the upcoming federal election.
Claiming fuel tax credits when rates change
Taxpayers could receive more savings for fuel they have acquired on and from February 2025.
Tax Office clarifies Division 7A position
The ATO has clarified five common myths about Division 7A tax legislation.
Taxpayer claims for various ‘home business’ expenses rejected
Taxpayer’s $40,000 Deduction Claims Rejected by Tribunal Unsubstantiated and Private Expenses Lead to Full Denial of Tax Deductions In a recent decision, the AAT rejected in full a taxpayer’s claims for “several classes or categories of deductions.” For the relevant period of 1 July 2021 to 30 June 2022, the taxpayer was (according to his […]
ATO reminder about family trust elections
Family Trust Elections: Key Considerations for Trustees Understand the Benefits, Risks, and Family Group Implications to Avoid Costly Taxes Taxpayers may be considering whether they should make a family trust election (‘FTE’) for a trust, or an interposed entity election (‘IEE’) for a trust or other entity. Making an FTE provides access to certain tax […]
AAT rejects taxpayer’s claims for work-related expenses
Work-Related Deductions Denied AAT Rejects Taxpayer’s Expense Claims Lack of evidence and use of company vehicles led the AAT to disallow nearly $10,000 in work-related deductions for a traffic controller. In a recent decision, a taxpayer’s claims for various work-related expenses were rejected by the AAT. The taxpayer was employed as a traffic controller in […]
ATO security safeguards for victims of fraud recently enhanced
Enhanced Security Measures for Victims of Identity and Tax Fraud Taxpayers affected by fraud can now set up Strong online access for easier, secure use of ATO services—learn how to protect your account long-term Where a taxpayer has been the victim of identity, tax or super fraud, the ATO may apply security safeguards to their […]
Avoid a tax time shock
Smart Tax Planning: Key Steps to Stay on Top of Your Obligations Ensure you’re setting aside the right amount of tax by reviewing loans, insurance and income details—learn how proactive steps can save you from a surprise tax bill! Individual taxpayers can take the following steps right now to ensure the correct amount of tax […]
Storing correct records for work-related expenses
Work-Related Deductions: What You Need for the New Financial Year Understanding Record-Keeping and Methods for Claiming Working from Home Expenses Taxpayers need to consider what work-related expenses they will be looking to claim in the new financial year, and what records they will need to substantiate those deductions. Records can be kept as a paper […]
