Please Note: AK Tax Service is currently at capacity and is unable to take on any new clients
Please Note: AK Tax Service is currently at capacity and is unable to take on any new clients
Rental Properties – what records do I need to bring?
Below is a list of recommended documents and information that you need to bring in relation to your rental property. Questions I will ask: How many weeks was the property rented for this financial year? Was it available for rent…
You must read this prior to your appointment
Have you heard of “tax gap”? The ATO is aiming to recoup over $8 billion in dodgy tax claims this year. The ATO received over $1 billion in additional funding so you can rest assured all of that will be…
Records for claiming work-related expenses
When completing your tax return, you’re entitled to claim deductions for some expenses, most of which are directly related to earning your income. To successfully claim a deduction for work-related expenses, it’s important that you must have spent the money…
The ATO’s “living expenses” tool to help tackle the cash economy
It’s known by a variety of names, such as the black economy, or even the cash or hidden economy. But whatever the label, its existence is a pebble in the ATO’s shoe that it is forever looking to prise out.…
The budget’s boost to instant asset write-off is now law
The budget’s boost to instant asset write-off is now law Federal Budget night announced an increase in the instant asset threshold, and also an extension of which businesses could access the measure. Now the Treasury Laws Amendment (Increasing and Extending…
Single Touch Payroll
Single touch payroll rollout for smaller employers A major change in the way employers report the tax and super information for their employees to the ATO have been on the way for a while now. The single touch payroll (STP)…
2019 Federal Budget Summary
Federal Budget 2019 The Treasurer Josh Frydenberg’s first budget has lots of goodies with few “baddies”. This was to be expected with the next federal election only weeks away and the Coalition Government trying to make up ground in the polls.…
What is the ‘tax gap’? And how does the ATO measure it?
What is the ‘tax gap’? And how does the ATO measure it? Every year, the ATO measures its revenue and compares that total against the amount of revenue it should have made were every taxpayer fully compliant. As you may…
The new “consumer” rules for GST and online purchases
Australians have been taking full advantage of the offerings on the digital marketplace with gusto for years now, but it has only been relatively recently that the rules for goods and services tax (GST) have caught up. With the purchase…
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