April 2019 Newsletter

Please click on the following link to view our monthly accounting/tax newsletter for April 2019:

April – 2019

We would like to highlight the following articles in this month’s newsletter:-

Single Touch Payroll: low-cost solutions now available – As mentioned in last month’s newsletter, single touch payroll reporting will be required for all employers from 1 July 2019. A range of no-cost and low-cost STP solutions are now coming into the market. The solutions will be affordable, costing less than $10 per month. They will best suit micro employers (with one to four employees) who need to report through STP but do not currently have payroll software.

ATO finds 90% error rate in sample of rental property claims – ATO Commissioner Chris Jordan has advised that as part of the ATO’s broad random enquiry program, its auditors have recently completed over 300 audits on rental property tax deduction claims and found errors in almost nine out of 10 returns reviewed. The ATO is seeing incorrect interest claims for entire investment loans where the loan has been refinanced for private purposes, incorrect classification of capital works as repairs and maintenance, and taxpayers not apportioning deductions for holiday homes when they are not genuinely available for rent.

Tax concierge service available to small businesses – The Small Business Ombudsman, Kate Carnell, has announced that taxpayers wanting an external review of an adverse tax decision by the ATO through the Administrative Appeals Tribunal (AAT) can now contact the office of the Australian Small Business and Family Enterprise Ombudsman for assistance. From 1 March 2019, small business owners without legal representation can access an hour with an experienced small business tax lawyer at a significantly reduced cost. Lawyers can review relevant documents and provide advice on the viability of an appeal.

Please do not hesitate to contact us if you have any queries in relation to your tax and accounting matters.