The ATO Environmental Policy – Are they taking it seriously?

The Australian Taxation office has an Environmental Policy which can be found at www.ato.gov.au a short extract is as follows.

“To acknowledge the impact the ATO has on the environment and outline the ATO’s commitment to being a good environmental citizen by reducing its environmental footprint.”

Recently, in January 2010, the Australian Taxation Office [...]

I have never seen

I have been in full time public practice as an accountant for 14 years. In that time I have seen clients invest their time and money into several schemes, with the intention of making fast money. I thought I might share with you a few investments that “I have never seen” make any money.

This [...]

First Tax Return ….. MYTH

I had an appointment with a prospective client recently, who has just recently arrived in Australia and was preparing his first tax return. His friends had suggested that, as it is his first tax return, he would get all the tax paid during the year back.

As the interview progressed I pointed out [...]

Tax Rates in 1998 and 2008

I am currently working on a client, that has not lodged a tax return since 1996. When you prepare tax returns over a 14 year period in a single sitting, you notice some real changes to the tax rates. For instance from 1st July 2009 the Low Income Tax Offset starts to reduced at [...]

Merchant Facilities

Was out on the weekend with my wife, it was suggested that for lunch, we go to a nice vegetarian eatery in a plant nursery at one of Adelaide’s beach side suburbs. What can I say, the meal was fantastic, followed by coffee and cake. All a very enjoyable experience, until… time to pay, [...]

GST Registration MYTH

I received this email from a client…. and thought it would be good for the WHAT THE…. category. MYTH:

“I have a regular sub-contractor, that claims that despite having his GST registration on the ATO ABR website, that he doesn’t have to charge GST if his earnings are less than a certain dollar amount.”

[...]