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No more Mr Nice Guy: the ATO wants its money

Tax time is just around the corner and the ATO has sent out a warning to businesses around the country that owe it money: the COVID-19 moratorium on debt collection has come to an end. Rest assured though, you’ve got some options. During the early days of the pandemic, the ATO says it deliberately shifted […]

Banks tighten lending, reducing the maximum you can borrow

Some of Australia’s biggest banks have tightened their mortgage lending criteria, meaning you might not be able to borrow as much from them. How might this affect your next purchase? This week ANZ lowered a key lending cap, indicating it will no longer lend to borrowers with a debt-to-income (DTI) ratio above 7.5 (meaning people […]

ATO hit list: rental property income and capital gains

Property investors beware: the Australian Taxation Office (ATO) has revealed the four key areas it will be targeting this tax year, and rental property income/deductions and capital gains are high on the hit list. Tax office Assistant Commissioner Tim Loh says this tax season the ATO will be targeting four key problem areas where it commonly sees […]

EOFY alert! Financial year-end is fast approaching

Small business owners wanting to buy a vehicle, asset or important piece of equipment and immediately write off the cost have just over a month to act this financial year. There’s nothing like an impending deadline to get you moving. And with June 30 now just over a month away (didn’t that sneak up on […]

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