Want some hot tips on some hot spots?

As part of the National Tax Accountant’s Association recent Tax Schools, we were kept abreast of the ATO’s individual audit hot spots for 2016, here they are:

Work related expense claims:

– they will be keeping an eye on unusually high work-related expense claims, claims for travel involving travel between home and work and claims for travel expenses that have already been reimbursed by an employer

Rental properties:

– there’ll be an increased compliance focus on rental property deductions, particularly claiming repairs to a newly acquired property and related interest claims

Medicare levy and Medicare levy surcharge:

– resources have been directed to this area of compliance to ensure those claiming an exemption from either of these rates are in fact entitled to do so

CGT issues with applying the main residence exemption:

– issues commonly arise in relation to this area where a property has been used for income producing activities or there have been some developments to the “backyard”

As always, I encourage you to err on the side of caution, keep excellent records for all transactions and be open and honest with me as I am completing your tax return so I can advise you accordingly…

Regards

Want to come to Paris?  Of course you do…

The 2016 Finding my Feet – Parisian Retreat will be held from 4th November – 12th November, 2016 in the heart of Paris – and I am excited!

Many of you who keep up to date with my antics will know that I travelled to Paris in 2015 and I can honestly say that I returned a different woman – I was inspired, I was liberated and I was motivated – and I literally felt as though I had found my feet!  My only problem was to work out how I could bottle that feeling and share it with you?  This is how…

Join me for 9 days of living in your own gorgeous apartment in the 2nd arrondissement and join in a coaching program that will change your life!

You’ll receive the benefit of a 12 session coaching program and additional resources, all while enjoying the luxury that is Paris – there is a beauty in Paris like no-where else in the world…she whispers to you as you stroll the banks of the Seine River, as you sit on the terrace of a Café and as you immerse yourself in French culture – you can truly see all that is the City of Light!

Finding my Feet – Parisian Retreat is hosted by Bron Levett Coaching with administration support from The Tax Chic.  For further information and to receive a brochure, please contact us here or via Facebook.

Regards

If you are a small business owner with employees, you might like to check out the new online checklist which is available to guide you through the federal and state laws that apply when taking on an employee.

In the past you may have needed to search a number of websites to find the information you were after, it is likely this was a stressful and time consuming process?

The simple online checklist links to an online pay tool to calculate conditions and pay with the Fair Work Ombudsman and it includes an improved tool to help in the decision in determining if you have an employee or contractor!

You can access the checklist through www.business.gov.au

Regards

The Federal election is fast approaching and I hope you have all updated your details on the electoral roll if required to do so!

The ATO are now sourcing information on registered voters from the Commonwealth electoral roll, refreshing the data every three months, and utilising it in a data matching program.

The details that will be acquired include:

• name of the registered voter
• their residential address
• sex of the registered voter
• date of birth, and
• occupation

The objective of this data matching program is to identify taxpayers that are not registered with the ATO when they are required to be, locate taxpayers that may have outstanding taxation or superannuation lodgement or payment obligations and identify potential instances of taxation or superannuation fraud.

The ATO are working very hard to find anyone who is attempting to defraud the Commonwealth.  I for one, appreciate their efforts!

Regards