USEFUL TAX INFORMATION
TWO KEY ATO TAX TARGETS 2025 THAT AFFECT MOST PEOPLE
NEW A FREE INTERACTIVE LIVE ONLINE ACCOUNTANT MEETING
The ATO has announced that they will target two areas that affect many taxpayers in 2025 & in future years.
Those key areas being ‘Work From Home ” and Rental Properties ( update added 13 March 2024)..
It is important that people understand the ATO’s Record Keeping requirements.
The ATO website: www.ato.gov.au provides useful information covering these two areas.
For your convenience, I have detailed important information about these two areas
Working from Home
Click here for an example of documents you should use when wanting to make a claim for working from home:
If you do not have the right paperwork and prepare correctly, then ATO will amend the Lodged Tax returns and people have to PAY MORE TAX for both these ATO target areas.
Rental Properties
The ATO is targeting taxpayers with rental properties in the 2024 tax returns.
Click here to be redirected to a page that explains the depth of what the ATO is doing. The ATO new tools allow it to pick up a lot more information to penalise you if you are trying to evade ATO scrutiny
They have done this, as they are picking up in Audits a greater number of errors by taxpayers when lodging Rental Property claims to that are excessive and so incorrectly result in higher Negative gearing effects, which result in higher Refunds & Lower Tax Payables than is warranted.
Double Click on this link to listen to a broadcast of information from me about Rental properties
If you want some more guidance from me as to what to do, pls do contact me to make a time to see me using the form on the website
SUPERANNUATION NEWS
Two contribution caps are set to increase from the 2025 income tax year.
The concessional contribution cap will increase from $27,500 to $30,000..this cap generally applies to employer super guarantee contributions, personal deductible contributions & salary sacrificed contributions.
The non-concessional contribution cap will increase from $110,000 to $120,000.
This ‘NCC’ cap generally applies to personal non-deductible contributions.
ONLINE LIVE MEETING
We are introducing a new feature.
This feature allows you to participate in an ongoing live meeting to hear and ask questions of a professional Accountant, and so learn about different topics on personal taxation and business matters.
It is not provided to get specific advice, but as an education medium on tax & business matters.
This feature will run different times.
If you would like to know when the feature is active so you can attend an online meeting please use the contact form on the website and include a message your wish to know the expected availability times of this unique feature.
CLICK HERE to access the meeting
plese not: if you click the link and nothing happens , it means the meeting is not in progress. Please consult the emailed times to know when the feature is active