Category: tax accounting
9 Unusual Work Deductions
Adult industry workers can claim costumes, lingerie, fetish equipment, and adult novelties - if used solely for income earning purposes. Bar staff can claim ...
Abolish the Breastfeeding Tax
With the abolition of the tampon tax on 1st January 2019, women have now started campaigning to have the breastfeeding tax removed as well. ...
Tampon Tax Abolished on January 1, 2019
Eighteen years after its introduction, the 10% tax on tampons and pads was removed after states and territories agreed to make sanitary products exempt ...
5% of Tax Practitioners are Breaking the Law
The Tax Practitioners Board (TPB) 2017/18 annual report highlights that only 95% of practitioners are compliant with all aspects of the law. For the ...
Registered Tax Practitioner Numbers Surge to 77,749
As at 30th June 2018 there are 42,561 tax agents, 15,638 business activity statement (BAS) agents and 19,550 tax (financial) advisers regulated by the ...
Only 1% of Accounting Practices Provide Tax Planning Services
For the year ended 30th June 2018, 42,561 tax agents (RTA) and 19,550 tax (financial) advisers generated $330 million in tax planning revenue. This ...
Financial Planners – More Than a Few Bad Apples
The Banking Royal Commission has delivered a scathing interim report on the practices of the financial planning industry. Unfortunately, it’s not just a question ...
Tax Return Review Services
Subject to complying with the ATO amendment periods, all tax returns can be reviewed, and amended where necessary. Taxpayers who have changed accountants, or ...
78% of Tax Agent Prepared Returns Have Errors
The ATO’s ‘Individuals not in Business Tax Gap Report’ has found that 78% of tax agent prepared returns have errors. Paul Drum, CPA Australia ...
Unhappy with Your Tax Refund?
Taxpayers are often unhappy with the size of their tax refund, believing it should be bigger. Sometimes the taxpayers are right and they are ...