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Plan for Success

As with most life goals, a financial objective is hard to meet without a plan. On the other hand, discussing the process with a professional, putting pen to paper and envisioning the steps to long-term success brings that goal into focus and makes it a reality.

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Work deductions – What’s on the taxman’s radar?

The ATO says that this year it will pay extra attention to people whose deduction claims are higher than expected, in particular those claiming car expenses.

The expenses the ATO says it will be scrutinising can include claims by those transporting bulky tools, and deductions for travel, internet and mobile phone as well as claims for self-education expenses.

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Taxpayers still guilty until proven innocent

Small business and individual taxpayers hit with hefty tax bills that they want to dispute will continue to be held guilty until proven innocent, and the Australian Taxation Office won’t have its appeals and compliance functions split under a separate commissioner, the Federal Government has said.

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