ato updates

Claiming Business Losses

Offset your business loss You may be able to offset your business loss against other income (such as salary and wages) if you’re a sole trader or in a partnership. Firstly, however, your loss must not be non-commercial. A non-commercial business loss is a loss you incur, either as a sole trader or in partnership, …

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ATO Recent Reviews And Warnings

ATO warnings on rental properties The ATO (Australian Taxation Office) is increasing its focus on rental property deductions and is encouraging all rental owners to double-check their claims before lodging their tax return. The ATO says: It is important for all property owners to keep accurate records. This helps to ensure they declare the right …

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