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The new rules for gift cards – what you need to know
By WSC Group | Created on November 13, 2018
**In Australia, around 34 million gift cards are sold each year with an estimated value of $2.5 billion. On average, an estimated $70 million is lost because of expiry dates.**
Travelling to and from your investment property
By WSC Group | Created on November 13, 2018
**From 1 July 2017, new rules came into effect that prevent taxpayers claiming a deduction for expenses they incur travelling to and from their residential investment property.** From 1 July 2017, new rules came into effect that prevent taxpayers claiming a deduction for expenses they incur travelling to and from their residential investment property.
Scammers impersonating tax agents
By WSC Group | Created on November 13, 2018
The ATO has received increasing reports of a new take on the ‘fake tax debt’ scam, whereby scammers are now impersonating registered tax agents to lend legitimacy to their phone call.
Accelerated tax rate reduction for small business
By WSC Group | Created on November 13, 2018
Small business is still a vote winner with the Government and Opposition teaming up to accelerate tax cuts for the sector by 5 years impacting on an estimated 3.3 million businesses.
Expansion of the TPRS
By WSC Group | Created on November 12, 2018
The Taxable Payments Reporting System (‘TPRS’) has been expanded to the cleaning and courier services industries from 1 July 2018**.
How tampons became a political debate
By WSC Group | Created on November 12, 2018
GST is applied to tampons but not to incontinence pads. Viagra is exempt from GST but nipple shields for breast feeding mothers are not. Breakfast cereals are GST-free but breakfast bars and drinks are taxable. We explore the political football of GST exemptions.** GST is applied to tampons but not to incontinence pads. Viagra is exempt from GST but nipple shields for breast feeding mothers are not. Breakfast cereals are GST-free but breakfast bars and drinks are taxable. We explore the political football of GST exemptions.
Proposed expansion of STP to smaller employers
By WSC Group | Created on November 12, 2018
Single Touch Payroll (‘STP’) commenced on 1 July 2018 for approximately 73,000 employers who have 20 or more employees.
Ban on electronic sales suppression tools
By WSC Group | Created on November 12, 2018
From 4 October 2018, the Government has banned activities involving electronic sales suppression tools (‘ESSTs’) that relate to people or businesses that have Australian tax obligations.
190,000 taxpayers ‘examined’ in ATO online rental blitz
By WSC Group | Created on September 11, 2018
The Australian Taxation Office (ATO) has announced a new data-matching program targeting taxpayers earning income from the exploding popularity of short-term rentals available on platforms like AirBNB and Stayz.
Crowdfunding donations to help drought- affected farmers
By WSC Group | Created on September 11, 2018
Editor: The ATO is currently offering various support measures to individuals and businesses from drought-affected communities to help with managing their tax and super obligations or who are struggling with their mental health.
