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 | 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 | Jun 11, 2025 | ATO, EOFY, Tax & Accounting, Tax Returns
One of the most-claimed work-related expenses each year is a working from home deduction, especially in the last few years. In 2024, more than 10 million people claimed a work-related deduction, and many of those claimed a deduction related to working from home. As...
by Financially Sorted | Jun 11, 2025 | ATO, Business, EOFY, Small Business, Tax & Accounting, Tax Returns
Year-end Tax Planning Opportunities & Risks for Individuals & Businesses With the end of the financial year fast approaching, we outline some opportunities to maximise your deductions and give you the low down on areas at risk of increased ATO scrutiny. For...
by Financially Sorted | Apr 24, 2025 | Business, Land Tax, Small Business, Tax & Accounting
More than 400,000 Victorians who run a small business or an Airbnb from the family home have been hit with hefty land tax bills for the first time as State Government changes, designed to rein in debt, kick in. The family home has always been exempted from land tax so...
