Posts by Clarity Taxation

GST refund fraud is now a major concern for the Australian Taxation Office (ATO), and there are good reasons for this. While most businesses do the right thing, a growing number of fraudulent GST claims have led to billions in losses. The ATO is cracking down hard, so it’s important to know what’s allowed and…

Every year, tax time brings a surge in scam activity. Fraudsters often pose as the ATO or other government agencies to trick individuals into revealing personal details, bank information, or even handing over money. This year alone, the ATO has reported a 300% increase in impersonation email scams compared to the same period last year.…

Even when we do our best, mistakes can still happen at tax time. Maybe you forgot to include some income, missed a deduction, or entered a figure incorrectly. The good news is, you’re not stuck with it. You can fix a tax return, and in many cases, it’s a simple process. Here are five key…

If you run a small business and are planning to sell an asset, like part of your business or a property used in it, there’s some good news. You may be able to use special capital gains tax (CGT) concessions that can reduce or even completely remove the tax you’d usually pay on the sale.…

When you buy tools, equipment, or other big-ticket items for your business, you usually can’t claim the full cost as a tax deduction straight away. Instead, you claim the cost bit by bit over time as the item loses value. This process is called depreciation. Depreciation helps you spread the cost of your business assets…

Purchasing a commercial vehicle through your business can offer real advantages but there are rules around how much you can claim as a tax deduction, especially if there’s any private use involved. How you classify your vehicle, claim electric vehicle incentives and manage potential FBT liabilities directly affects your GST claims, depreciation and overall tax…

As we head towards the end of the financial year, it’s natural to start thinking about tax time especially if you’re hoping for a decent refund or just want to get your return sorted without any stress. It’s also around this time that many people jump online, looking for quick answers. You might find yourself…

If you’ve ever looked at your payslip and wondered where part of your pay went, or if you’re an employer trying to stay on top of your tax obligations, chances are you’ve come across PAYG withholding. It might sound technical, but it’s actually a simple system that helps everyone stay on top of their taxes.…

Losing someone close to you is one of the most difficult experiences in life. During such times, dealing with practical matters like tax can feel overwhelming. But remember, you don’t have to handle everything at once, and you certainly don’t have to do it alone. Here’s a gentle guide to help you navigate the tax…

As an employer, you might find yourself in situations where you lend money to your employees. Whether to help them out during a tough time or as part of a work-related arrangement, these loans can have certain tax implications, particularly regarding Fringe Benefits Tax (FBT). When is an employee loan considered a fringe benefit? A…