The sharing economy has gained significant ground in the Australian economy as property owners and car share providers look to gain better returns on their assets through short-term rental.
However, both are squarely in the crosshairs of the ATO as it seeks to data match income against tax returns and deductions. This month we look at how the ATO is actively examining more than 190,000 taxpayers and car sharing providers.
Also this month, we look at last minute tax and franking rate changes, new rules about paying back HELP debts, safe harbours for inherited foreign property, and new leave entitlements for people experiencing domestic violence.
As always, if you have any queries, contact our team on 9957 4033.
This article is provided for information purposes only and correct at the time of publication. It should not be used in place of advice from your accountant. Please contact us on 02 9957 4033 to discuss your specific circumstances.