Posts by Clarity Taxation

A smaller refund this year rarely means something went wrong with your return. It usually means your income, your HECS/HELP repayments, or your ATO account balance looked different this year than last. Refunds move up and down for genuine reasons, and most of the time it has nothing to do with an error. Key takeaways…

The instant asset write-off rule most business owners miss isn’t about eligibility. It’s about timing. To claim the full cost of an asset on your 2025-26 return, it needed to be first used or installed ready for use by 30 June 2026, not just ordered, invoiced, or paid for. If you’re finalising that return now,…

For most people, it’s better to wait. MyTax opened on 1 July, but the Australian Taxation Office’s (ATO) pre-fill data is usually not complete until mid-August. Lodging early is the main reason people need to amend their returns. Waiting a few weeks now can help you avoid bigger problems later. Key takeaways Pre-fill data arrives…

If you run a business, own an investment property, or are just lodging your return, there are some important changes and ATO priorities to be aware of before 30 June. Key takeaways Payday super starts from 1 July 2026. Employers should prepare now to avoid unexpected cash-flow issues. The ATO is actively warning against misleading…

Yes, in most cases, you can fix Fringe Benefits Tax (FBT) mistakes, and the sooner you act, the more options you have. FBT is an area where even careful businesses can get things wrong. A misclassified expense, an overlooked exemption, or an incorrect valuation can all create an unexpected liability. The good news is that…

Yes, significant unpaid tax debts can affect your career, and not just your bank balance. For professionals in regulated industries, unresolved obligations can attract scrutiny from licensing bodies, raise red flags with employers, and in serious cases, put your ability to practise at risk. Key takeaways Regulated professionals (accountants, lawyers, financial advisers, healthcare workers) can…

Planning a trip overseas? Before you pack your bags, it’s worth knowing that the Australian Taxation Office (ATO) now has the power to stop certain taxpayers from leaving Australia, and it’s using that power more than ever. Known as an ATO Departure Prohibition Order (DPO), this legal measure prevents individuals with significant unpaid tax or…

As another year unfolds, the ATO is warning taxpayers to be extra cautious about certain “too good to be true” tax arrangements, especially those involving barter credits. These schemes might seem attractive, especially for small businesses under pressure, but they can lead to serious compliance problems, penalties, or worse. Key Takeaways The ATO has flagged…

Finding out you owe tax can be stressful, especially when you’re juggling wages, suppliers, business activity statements (BAS) deadlines, and daily cash flow. What you do next is important. Key takeaways Confirm the debt is correct and understand what it relates to. Act quickly. Interest and penalties can add to what you owe, and the…

The festive season is often a busy and costly time for Australian business owners. End-of-year client gifts, staff presents, holiday parties, and charitable appeals quickly fill the calendar and add to your expenses. While it feels good to be generous, the way you give as a business can have different tax outcomes. Some costs are…