by Financially Sorted | Jul 28, 2025 | ATO, Small Business, Tax & Accounting, Tax Returns
For individuals such as property investors and small business owners the possibility of undergoing a tax audit from the Australian Taxation Office (ATO) is a legitimate concern. Audits require substantial time and effort and may also incur considerable expenses as the...
by Financially Sorted | Jul 28, 2025 | ATO, Tax Returns
No-one wants to risk an audit by the Australian Tax Office (ATO). Avoid these four common mistakes to stay off the ATO radar this tax season. 1. Work-related expenses The most common mistake individuals make in preparing their tax, is incorrectly claiming work related...
by Financially Sorted | Apr 1, 2025 | ATO, Business, Government Legislation, Superannuation, Tax & Accounting
With a federal election set for 3 May 2025, there are many issues we all need to consider including interest rates, cost of living, immigration numbers and the future direction of the country. Two other key issues to be aware of are the controversial removal of GIC...
by Financially Sorted | Mar 17, 2025 | ATO, Small Business, Tax & Accounting
The ATO has announced that from 1 April 2025, it will be moving around 3,500 small businesses with a history of non-payment, late or non-lodgement, or incorrect reporting from quarterly to monthly GST reporting to improve their compliance. The ATO believe that moving...
by Financially Sorted | Jan 31, 2025 | ATO, Property Investment, Tax & Accounting, Tax Returns
Records of around 2.2 million landlords, tenants and property managers will be used to track down underreported income by the ATO. The ATO is ramping up its scrutiny into millions of landlords’ tax affairs to catch those who fail to lodge income tax returns and who...
