Do you need to lodge a Taxable payments annual report this year?
If your main business activity is in the building and construction industry and you paid contractors for building and construction services in the 2017-18 financial year, your report is due by 28 August 2018.
You can lodge your report:
online if you have compatible software
through your tax or BAS agent
by mailing us the completed form.
By reporting the payments you've made, you're helping to increase fairness within your industry.
Do you have any overdue reports? Lodge them as soon as possible.
Click here to read more from the ATO
This tax time, to work out what business expenses you can claim, apply these three golden rules:
The money must have been spent for your business – not a private expense.
If it's a mix of business and private use, only claim the portion related to your business.
You must have a record to prove your expense.
Click here to read more from the ATO.
These changes affect investors who purchase second-hand residential properties after 7:30pm on the 9th of May 2017 by limiting the depreciation they can claim on existing plant and equipment assets.
Click here to read more from the ATO
The ATO have recently announced changes to the threshold of Division 293 tax. From 1 July 2017 the threshold for which this tax kicks-in will be lowered to $250,000.
Click here to read more from the ATO
