Covid-19 has affected all aspects of life, including businesses and individuals alike, and the ATO is recognising the financial strain placed upon them. Therefore, they have announced that they are not applying any penalties or interest for any excessive variations for the 2022 financial year.
The countdown is on, tax time 2021 is almost here. You may be eager to lodge your return early to get your hands on a potential refund. But with Covid-19 making this tax year anything but routine, the ATO has warned against lodging too early. We explain why.
In the current Covid-19 affected economy, it’s no surprise to hear that many young and not-so-young Australians may have income from more than one job. If you are working more than one job casually, you need to be careful to avoid an unexpected end of financial year tax debt
As Covid-19 continues to affect the current business climate and employees continue to work from home as a result, the Australian Taxation Office (ATO) has advised that the “shortcut” rate for claiming work from home running expenses has been extended again.
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