ATO Hit List on Tax Returns
Jan 6, 2020
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Occupancy expenses while working from home
The ATO has reminded that it is closely scrutinising work from home expense claims, particularly where taxpayers incorrectly claim occupancy expenses such as rent or mortgage interest. The ATO notes that employees are generally not entitled to claim occupancy expenses where they choose to work from home, even if they live a considerable distance from their employer's workplace. To claim occupancy expenses, a taxpayer must be able to demonstrate that they incurred the expenses
Directors’ personally liable for superannuation guarantee paid late
The Federal Court in Ostwald v Commissioner of Taxation [2026] FCA 868 considered whether the directors were personally liable for director penalties in relation to superannuation guarantee charge payable by the company. Of note is the fact that the company did actually make payments for the relevant superannuation guarantee, however the payments were paid late in respect of the quarters ended September 2016, 30 December 2016 and 31 March 2017. In fact, the payment for the
Tranche 2 of CGT and negative gearing legislation
Treasury has released draft legislation and explanatory materials for the second stage of the legislative amendments for the CGT and negative gearing reforms that were announced in the 2026-27 Federal Budget. The draft materials address many of the gaps that were identified by practitioners following the release of the initial legislative package. Key points to note from the draft legislation include: • Individuals can potentially retain access to existing negative gearing r
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