Australian Taxation & Compliance Updates

A list of the topics and issues raised in the December 2017 edition of the tax technical update is summarised

Globalisation has had a profound impact on the modern business operating environment, whereby significant technological transformations especially over the last decade have given arise to increased international mobilisation of both staff and senior level management.

From 1 July 2018, all employers with more than 20 staff will be required to implement a payroll system that reports directly to the ATO with every pay cycle.

Employee truck (and other transport) drivers who have been required to sleep away from home overnight due to work have new rules relating to travel expense claims. These new rules take effect from 1 July 2017, meaning the drivers affected need to make adjustments as soon as possible.

Are you considering driving your car for Uber to earn extra money on the side? If so, this worked example below will help to illustrate how Uber driving will impact on your tax obligations.

The ATO has issued an addendum to Taxation Determination TD 2017/19 (reasonable travel and overtime meal allowance expense amounts for the 2017/18 income year).