Boston Blog

Throughout September the Tax Office have advised that they are doing an ‘educate and assist’ mail out to small businesses where the main earner of the business is the business owner. The ATO are concerned that some business owners and indeed their accountants are...

The tax office released some prosecution figures recently on compliance action it has taken against people this year. In brief, two thousand individuals and companies were successfully prosecuted for fraud, tax and superannuation offences in the 2011-12 financial...

The increase in the tax free threshold from $6,000 to $18,200 is a welcome relief for those entering the workforce, however there are potential traps to be aware of for certain workers. What we have seen over the years are people who either change jobs frequently or...

The Tax legislation is a walk in the park right? Well not exactly, just ask the myriad of people who have shown up at Boston Accounting this year after having prepared their last years tax return using the E-Tax software provided by the ATO. These people thought it...

“I opted for the Parental Leave pay over the baby bonus after the extensive questionnaire I filled out told me I would be better off, now you say I have to pay it back?” – This is what we have been hearing this year at Boston Accounting after entering Centrelink’s...

A lot of businesses around Australia are putting on workers as contractors/subcontractors instead of as employees. This has traditionally been done either due to a mistaken belief that (a) the employee is a contractor, or (b) for the business to save on costs that...

The Federal Court of Australia has recently handed out a $30,000 fine to a person who claimed to be a tax agent but wasn’t. Details of the case are here: http://www.austlii.edu.au/au/cases/cth/FCA/2012/642.html Before you get your tax return done this year, check that...

For all you university students / budding movie makers – you should consider entering the Tax Office’s video competition. You can choose from two topics: -          Tax File number protection; or -          How the ATO contributes to a sustainable society (my...

Tax time 2012 is rapidly approaching and you know what that means... getting together all your receipts, sorting them into piles, then give up and go do something that you want to do. Then before you know it the tax return lodgement deadline is here and you do one of...

The Parliamentary Joint Committee on Corporations and Financial Services has released its report into the collapse of Trio Capital. The Committee said the collapse was the "largest superannuation fraud in Australian history" and noted the $176m in superannuation funds...