What is ATO Lifestyle Expense Tax Audit

Last week, the Australian Taxation Office (ATO) announced its focus on lifestyle expense tax audit for Fy2021, targeting around 300,000 taxpayers. The ATO is gathering evidence from insurance companies to determine the value of certain goods purchased, such as luxury cars exceeding $65,000, boats over $150,000, and art and collectibles valued at over $100,000.00. In […]

Review your jobkeeper and cashflow boost if you had been declined before

Review your jobkeeper and cashflow boost if you had been declined before. As the leading professional and experienced CPA accountant and tax agent in Inner West Sydney and Adelaide, we are here to help you. ATO had recently lost a landmark case against jobkeeper, and now is a good time, as ATO would want you to review your jobkeeper application if it had been declined before to see whether it can meet the findings from the court case, hence it will become eligible.

AAT affirms ATO decision to disallow NAVY sailor deduction of work related expense

This article is to share our view on the recent Administrative Appeal Tribunal AAT decision on a recent ATO case against the taxpayer Cameron Lambourne, an electronic technician with the Australian Navy about Sailor’s work-related expense. As one of the most experienced accountants and tax agents in Ashfield Sydney and Adelaide South Australia, we think […]

Tax Audit Tips from Michael Cranston – Past Deputy Commissioner of ATO

A tax audit can sometimes be quite frightening and daunting to those people who are not well prepared for a tax audit. In Australia, the tax-lodgement system is based on the self-lodgement protocol, which means you would lodge the tax return, both individual and business tax returns. You would be responsible for the accuracy and […]

Let us help you to fix the tax audit

A tax audit can be very stressful at the time when the Australian Taxation Office is alleging you have under-declared income or over-claimed deductions, or areas where the tax laws had applied in mistake.When faced with a tax audit, It is not only the taxpayers who might feel the stress with the tax audit but […]

Tax audit – how to minimize the risk and the tax bill

Our framework in assisting customers with tax audit is based on four principles, MEET, PLAN, ANALYZE, and NEGOTIATE. According to the latest news, 400 small businesses will expect visits from the Australian Tax Office (ATO) this March.  ATO will target at take away shops, hair salons, beauticians to target the problem of under declare of […]