Throughout March, the ATO sent letters to directors who are potentially in breach of their obligations to ensure that the company they
represent has met its PAYG withholding, superannuation guarantee charge, or GST obligations.
These letters are a warning shot and should not be ignored.
Can I Claim a Tax Deduction for my Gym Membership?
There are lots of reasons to keep fit but very few of them have to do with how we earn our income. As a result, a tax deduction for a gym
membership isn’t available to most people. And yes, the Tax Office has heard all the arguments before about how keeping fit reduces
sickness and therefore is important to earning an income, and ‘…the way I look is important to my job’.
The Government temporarily halved the excise and excise equivalent customs duty rates for petrol, diesel and all other petroleum-based
products (except aviation fuels) for 6 months from 30 March 2022 until 28 September 2022. This has caused a reduction in fuel tax credit
The 120% Deduction for Skills Training and Technology Costs
It’s a great headline isn’t it? Spend $100 and get a $120 tax deduction. Days after the Federal Budget announcement that businesses will be
able to claim a 120% deduction for expenditure on training and technology costs, we started receiving marketing emails encouraging us to
spend now to access the deduction.