The ATO is giving individual taxpayers with simple affairs the ‘green light’ to lodge their annual income tax returns.
The cents per kilometre method is a simple way to work out how much you can deduct for car-related work or business expenses.
The ATO is encouraging small businesses that have overdue income tax returns, fringe benefits tax returns or business activity statements to take advantage of lodgement amnesty that will run until 31 December 2023.
Several tax changes apply in the 2022/23 income year. There may be some advantages in acting on some of these items before 30 June.
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