Day: May 19, 2023

ATO Puts Landlords on Notice

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Landlords and their accountants have been forewarned of added scrutiny by the ATO regarding rental property deductions. The ATO appears to have made the issue a priority this year, alongside CGT and work-related expenses for work-from-home employees. ATO assistant commissioner, Tim Loh, said that the authority had identified common mistakes…

SMEs Urged to Take Up Energy Tax Incentive

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Treasurer Jim Chalmers has confirmed plans to introduce the Small Business Energy Incentive which will see small and medium enterprises (SMEs) rewarded with up to $20,000 in tax breaks for electrification and energy efficiency efforts. This tax incentive is set to be part of the upcoming budget and is expected…