Four areas ATO is cracking down on
The ATO has outlined the major areas it will be targeting, shooting a specific warning to people who are claiming work from home benefits.
Tax Time
Tax time is approaching. Find out what you can and cannot claim for deductions this financial year and who is on the ATO's tax hit list.
Crypto gains in ATO crosshairs
Crypto assets will be a key focus of the ATO at tax time as the organisation looks to crackdown on the mistakes Aussies are making.
ATO chasing 40,000 Aussies over tax loophole
Tens of thousands of Aussies are set to be targeted by the ATO over a tax return loophole that’s costing $850 million.
‘Biggest tax fraud in Aussie history’: court
The trial of five people who are alleged to have ripped off $105m from the Australian Taxation Office through unpaid taxes and GST has begun.
Tax warning for Aussie crypto owners
Cryptocurrency traders are being warned the ATO will apply extra scrutiny in the upcoming tax season. Here’s what you need to know.
Why you shouldn’t reply to this ATO text
As an important tax deadline nears, cyber criminals are making the most of it to steal money from Australians. This scam went live on Sunday.
Housing affordability a ‘crisis issue’
Extreme housing affordability pressures are “only going to continue” if unaddressed in Tuesday’s budget, with first-home buyers and those facing homelessness on the agenda.
‘Call that uncovered my boss’s deception’
Employees were ripped off more than $82,000 but despite complaints they haven’t seen a cent. Now the company has gone into liquidation.
War of words over Aussie tax hike
Figures show the Morrison Government is collecting more tax than previous governments, but the Treasurer argues there’s a reason for it.
Huge potential payday for backpackers
Thousands of backpackers could be eligible for an unexpected cash bonus after the High Court ruled on an ‘unfair’ tax.
Tax Office boss feels JobKeeper heat
The head of the Australian Taxation Office will be hauled over the coals in relation to businesses who received JobKeeper payments.
Salary you need for extra $2612 tax bonus
The tax brackets have changed which means most Aussies will get a tax boost this year – but a certain group is due a very healthy sum.
‘Secrets not safe’: ATO’s warning to Aussies
The ATO has fired off a warning to Australians hiding money from the authorities saying they will feel ‘serious consequences’.
Trick to score extra $1000 at tax time
Avoiding this shortcut and putting in the extra work could make a huge difference to what you get back. Find out how to do it.
The Aussie families in line for a windfall
Some Australian families will enjoy a silver lining from the pain of being in lockdown, with many in line for a tax windfall.
Tax mistake 600,000 Aussies are making
Aussies are being warned that any creative attempts to claim more money will be caught out and people risk facing penalties.
Case against tycoon 40,000 pages: court
A millionaire mining tech exec who allegedly defrauded the ATO of more than $38.5m has a 40,000 page case against him, a court has heard.
Decision that can cost you at tax time
It’s tax time and many of us will be hoping for a handy tax return windfall. But there can also be a nasty surprise for some.
ATO building, supermarket among latest exposure sites
The list of exposure sites continues to balloon with an Australian Taxation Office site in Moonee Ponds and a Melton West supermarket the latest venues to be deemed high risk.
Tax office warning for property owners
More than 1.8 million Aussies have been put on notice that their tax returns will be scrutinised for incorrect claims.
‘Red flag’ that could trigger tax audit
The ATO has warned 300,000 Aussies that tax time “isn’t a game of Monopoly” where you can roll the dice and avoid reporting income.
Alleged fraudster’s $38m tax rort
An elderly man has been charged after he allegedly defrauded the government of tens of millions of dollars in his income tax returns.
Fines of $1100 for not filing tax return
If you have avoided lodging your tax return, you could face severe financial penalties or even jail. But you could also be missing out on a tidy sum of cash.
Outrageous things you can claim on tax
Accountants have revealed some of the secret claims that have been attempted and rejected – and the more obscure ones that have worked.
Broken tax system costs Aussies $50b
There have been calls for huge changes including income tax cuts, removing tax breaks for property investors and universal free childcare.
ATO chasing $284m in payments
Billions were paid to help people and businesses hit by the pandemic, but investigations are uncovering if the right thing was done.
Three words to remember at tax time
Tax time can mean a handy windfall of cash for many of us and what we do with it can come down to three words.
Tax time a big wake-up call for investors
For the two million or so Aussies who own an investment property, tax time is one of the most important periods of the year. Here’s what you should be doing.
Common mistakes Aussies make at tax time
With the possibility of an average tax return of $2820, you don’t want to miss out on extra cash. Find out where things can go wrong.
‘Not a game’: ATO warns crypto investors
For those that own bitcoin or other digital coins, there’s no escaping your tax bill. Find out how the ATO can pin you down.
All the major changes in Australia today
Everything from wages and healthcare will take a hit. Find out where you can save some money and which things are going to cost more.
July 1 tax mistake to avoid
You may be eager to get that refund, but filing your tax return on July 1 could land you in serious trouble with the tax office.
Barefoot Investor’s $400 tax tip
As tax time approaches, the Barefoot Investor has warned that Aussies are throwing away their tax gains on one simple mistake.
Aussies who will get biggest tax returns
Millions of Aussies are expected to get a bumper tax return this year, but there are things you need to do to get organised before July 1.
Scary tax deadlines to watch out for
Here’s how you can avoid a $1050 fine – which is how much you’ll owe the tax office if you miss an important due date for payment.
Take advantage of tax time, bank urges
With only five days left until the end of the financial year, it’s time to look for any last-minute items that could help reduce your tax bill.
Aussies could get $2600 back in tax
Millions of Aussies don’t think they will get anything back at the end of the financial year. But that’s not what the experts are predicting.
Weird thing pilots can claim on tax
We’re all trying to work out how to reduce our tax bill without breaking the law, and some professions get to claim things others can’t.
‘They’re everywhere’: Tax scams surge
Australians are being warned about a big rise in tax time scams after people were defrauded out of $900m during the last year alone.
Tax claims you won’t get away with
Every year taxpayers try and make some questionable claims in their tax return. Find out what won’t fly with the ATO.
Things you must do for tax before June 30
One-in-four Aussies don’t complete a tax return each year and millions could be missing out on cash. Find out how to avoid getting stung.
The jobs that will pay you $200k
New data has revealed professions that earn the most amount of money. This is what you need to aim for to crack the $200,000 mark.
How to get your $1080 in tax back
More than 10 million Aussies are set to benefit from these tax cuts. Find out the simple way to make sure you get money back.
Surprising things you can claim at tax time
Accountants spill the little-known areas where people can claim deductions and get the most from their tax return.
Work from home tax pitfall to avoid
Working from home has been great for some but claiming your expenses can be confusing. Here’s one pitfall you should avoid.
Biggest cryptocurrency tax mistake
The ATO is closely tracking cryptocurrency transactions this year and warns investors they face penalties and audits if they ignore their tax obligations.
Expense claims ATO is cracking down on
Aussies who continue to claim deductions for these items — despite working from home — will find themselves on the ATO’s radar this tax time.
Aussies who will get ‘bumper’ tax refund
Most Aussies will get a larger than normal tax refund this year thanks to tax cuts that have been brought forward. Find out how much you’ll get.
The Aussies about to take a big income hit
About eight million Australians will be worse off when tax changes come into effect this year — find out if you are one of them.
Big problem with ‘new’ Aussie tax cut
Treasurer Josh Frydenberg faces a tax time bomb in next week’s budget – and it all comes down to the biggest winners from tax cuts.
Fresh warning about email scam
Australians are being warned to be extra vigilant in the lead-up to tax time after hackers made fresh attempts to swipe personal details.
How Aussies could get $1k tax bonus
A proposal to guarantee people money back at tax time – without hoarding receipts – could also help stamp out “gaming” of the system by high income earners.
Who will get $1080 tax time bonus
People earning over $126,000 can “manipulate” the system to become eligible for the tax break, while low income earners face missing out.
What the ATO is targeting this tax year
An expert has revealed what the ATO will be looking out for on your tax return this year – and there’s a warning for those who like to get sorted early.
Huge tax hit for Aussies on less than $126k
Ten million Aussie workers are set to take home less pay as tax cuts come to an end, with women among some of the hardest hit.
Four jobs that can cash in at tax time
People working in four industries could be missing out on thousands by failing to make these claims when they lodge their tax return.
Nasty surprise coming in tax returns
A hidden tax detail is set to catch many households unaware and drive up the cost of a common bill for millions of Australians.
Sydney suburbs missing out on cash windfall
There’s whopping amount of unclaimed super that you could get your hands on before Christmas. And one postcode is owed a fortune.
50 Cent’s stunning Trump backflip
The rapper threw his support behind the President – but now, he has back-pedalled spectacularly, claiming he “never liked” Donald Trump.
Will you save or spend your money?
The wealthy will get the most back when tax cuts are introduced. But the massive bonus for the rich has led to a surprise reaction.
Tax cuts that ‘may never happen’
Millions of Aussies are celebrating new tax cuts headed their way. But there’s another range of cuts that may never see the light of day.
Work out how much you get from Budget
Treasurer Josh Frydenberg has handed down a Budget that includes a staggering amount of spending. Find out how much you’ll get.
Big losers in the Budget revealed
The COVID Budget has landed. These are the Australians who are better off as a result and the ones who may not be smiling.
One huge catch with your tax cut
Treasurer Josh Frydenberg has promised workers extra cash in their pay packets from this month, but the vast majority will be forced to wait.
The Budget explained in five minutes
There’s plenty of good news for many Australians in the Budget including tax cuts and other incentives. Here’s what’s in it for you.
How to get your backdated tax cut
A huge number of Aussies will immediately begin paying less tax very soon. Here’s how you’ll get your backdated savings – and when.
The Aussies snubbed by $4b plan
The federal government has unveiled an ambitious new $4 billion plan to help Australians get a job – but not everyone will benefit.
Hint on when you can travel overseas
The Budget has provided a hint on when international travel will recommence, with a big change in our tourism industry.
‘No benefit’: Tax cuts for the rich slammed
Wealthy Aussies will have their pockets lined even further under the new Budget, while those out of work have been left out in the cold.
How much you’ll get back in tax cuts
More than 11 million Australians will get a tax cut this year – and it’ll be backdated, meaning your tax-home pay will increase within weeks.
Tax cuts for millions ‘within weeks’
More than 11 million Australians will get tax cuts as part of the Budget, with the money to be in pay packets by the end of the month.
Read Josh Frydenberg’s full budget speech
Treasurer Josh Frydenberg has handed down the 2020 Federal budget, revealing tax cuts and spending on jobs and infrastructure.
Massive mullet boast that’s backfired
Josh Frydenberg used to crack a joke about his infamous mullet as a way of attacking Labor. Tonight, the Treasurer isn’t laughing.
Aussies to get bonus $500 handout
Welfare recipients will soon score a surprise gift from the government, with two $250 payments hitting bank accounts within months.
Big problem with this Budget graph
The government says Australia will dig its way out of a record $214 billion budget hole – but it’s basing that prediction on a huge assumption.
Tax win for Aussies working from home
It will be easier for Australians working from home to make a tax claim, but experts fear the system might leave workers short changed.
JobKeeper crackdown busts thousands
The ATO has gone after Aussies rorting the wage subsidy scheme after receiving 9000 tip-offs from the public, clawing back $75 million so far.
Women screwed by new tax plan
Male workers will get double the tax cut cash that women will get under a new plan to bring forward tax relief in the wake of the pandemic.
Virus pandemic sparks new tax warning
Huge tax increases and the introduction of new taxes could be on the cards as global governments reel from the coronavirus pandemic.
How much you will save from tax cuts
The vast majority of Aussies will save $1080 through the tax changes but this quickly climbs to $2565 depending on your income.
Original URL: https://www.news.com.au/topics/tax-time/page/5