by Financially Sorted | Nov 27, 2025 | ATO, Property Investment, Tax & Accounting, Tax Returns
The ATO has released fresh draft guidance on its approach to rental property tax deductions, marking a shift in its treatment of rentals also used as holiday homes. Earlier this month, the ATO withdrew its existing ruling on rental property deductions and released a...
by Financially Sorted | Oct 30, 2025 | ATO, Business, Superannuation
The Payday Super legislation has finally been introduced to Federal Parliament after years of discussion. Designed to put a stop to wage theft in the form of unpaid super, Payday Super will require employers to pay their employees’ superannuation at the same...
by Financially Sorted | Oct 30, 2025 | ATO, Business, Small Business, Tax & Accounting
As the year wraps up, many business owners want to thank their employees and clients for their support. Before you start wrapping gifts or planning a celebration, it’s worth understanding the tax rules that apply especially when it comes to fringe benefits tax (FBT)...
by Financially Sorted | Sep 30, 2025 | ATO, Tax & Accounting, Tax Returns
The Australian Taxation Office (ATO) is continuing to expand its use of artificial intelligence (AI) to review taxpayer submitted, supporting documents as part of a broader push to “industrialise” AI across the agency by 2030. Recently, it has started...
by Financially Sorted | Aug 29, 2025 | ATO, Tax Returns
Careful record keeping is a must in order to prepare an accurate tax return and support the claims you make. Generally speaking, if you claim a deduction, you must have records to show how you calculated your claims. Records are usually a receipt from the supplier of...
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...
