Tag Archives: accountant crows nest

Proposed new method for calculating WFH expenses

Taxpayers could soon be dealing with more paper work at tax time or face the prospect of a lower deduction for work from home expenses if the ATO gets its way. The ATO has recently released a proposed new revised fixed rate method of calculating work from home expenses of 67c per hour. This will replace the previous shortcut method of 80c per hour which most taxpayers have been using during the pandemic as well as the previous fixed rate method from 1 July 2022. This proposal is still in draft stage and open to submissions from interested parties.

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ATO target rental property owners

Rental property claims are forever in the spotlight of the ATO with claims. With interest rates at historical lows more properties than ever before are positively geared. Ensure your rental property claims can stand up to the scrutiny of an ATO review.

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SMSFs and minimum pension requirements

As the trustee of an SMSF, if one of the beneficiaries of the fund retires and commences an account-based pension, it is the responsibility of the trustee to ensure that the pension meets the minimum pension payment requirements. Generally, once a pension or an annuity is commenced, there is a minimum amount that must be...
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