Scammers targeting pre-retiree SMSF’s
CPA Australia have released an article in relation to investment schemes. It provides some interesting reading in relation to the amounts taken under the schemes.
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Tax time messages from the ATO
The ATO has issued various media releases with tax time messages.
In relation to individuals, the ATO's tip to self-preparers intending to use myTax is to hold off until August when the ATO will have received most of the data from employers, banks, government agencies and other third parties to pre-fill tax returns.
With regards to the sharing economy (doing odd jobs or providing a service like task sharing, transporting passengers through things lik
More on ATO Scams
The ATO and CPA Australia have warned taxpayers to be wary of tax-related scams during tax time.
ATO data indicates scammers are particularly active during tax time, with a 90 per cent increase in the number of phone and email scams reported to the ATO in 2015 as compared to 2014.
Assistant Commissioner Graham Whyte said people should be vigilant and protect their personal information by keeping it private. He reminded taxpayers that the ATO will nev
9 Handy Excel Tips
The CPA has provided 9 Handy Excel Tips to help users get the most out of Excel.
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Handy Tax Tips for tax time
Along with CPA Australia, the Tax Institute of Australia has also provided some handy tips for tax time. Check them out.
Tax Tips for Students
Tax Tips for Employees
Tax Tips for Small Business
CPA Tax Tips
CPA Australia have provided some handy tax tips for employees and small businesses. Want to know more?
Tips for Employees
Tips for Small Business
Common Lodgement Errors
The ATO have published an article on common lodgment errors they find. The errors are:
incorrect client details
lodging duplicate returns - if someone has already lodged their return and needs to correct a mistake, they must request an amendment
repeating information
omitting income or information - income, income test questions, spouse details and private health insurance information are commonly missing or incomplete.
ATO Benchmarks
The ATO has released benchmarks for small business. They are a guide to help taxpayers compare their business's performance against similar businesses in the same industry.
Based on the data from 2014 income tax returns and business activity statements, the latest benchmarks:
are calculated from income tax returns and activity statements from over 1.3 million small businesses and are verified as being statistically valid by an independent organisat
Extension of Time to get Superstream ready
The ATO have given small businesses a slight reprieve on the implementation of Super Stream by allowing an extension of time.
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Is it a scam? (ATO)
Recently there has been an increase in scam related activities. Due to it being the end of the financial year one focus by scammers has been the ATO. The ATO have provided some tips to identify whether it is a scam or contact has legitimately been made by the ATO.
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