Blog

  Recently announced by the Australian Taxation Office is a remodel to a concept many taxpayers will already be familiar with; Home office running costs. Its purpose is to simplify and increase a taxpayers right to a deduction for working from home as result of the COVID-19 virus while performing genuine work duties. The changesRead more

  At tax time and everybody wants to get their refund. At Optima Partners we have been seeing many clients who need to lodge their individual tax returns. Part of the service we aim to provide to our clients is to educate them about the taxation consequences of their affairs, so we are always happyRead more

What is an ATO Clearance Certificate? There was a time when you sold property and you were an Australian resident you just claimed the 50% discount if you held the property for more than 12 months. You did not have to prove you were an Australian resident, you just self-assessed that you were an Australian resident.Read more

Have you undertaken studies at an educational institution, attended conferences/seminars or commenced an online learning program this financial year? If so, do you know you may be be able to claim self-education expenses in your 2017 tax return? Self-education expenses may be tax deductible if there is a direct link between your assessable income andRead more

Privacy ? The Australian Taxation Office (ATO) is a very busy organization. It does much, much more than just processing your tax return or Business Activity Statement and sending you your tax refund or bill and then chasing payment if it’s late. When you do your tax return every year, either through a tax agentRead more

People often think of the Australian Taxation Office (ATO) as the big bad wolf on the prowl come the end of the financial year. And taking a third-person perspective, some would say the ATO has the view of “what’s yours is mine, and what’s mine is mine.” In translation… “Everything belongs to me” – whichRead more

A strong working relationship between a client and their accountant can be complex and demanding, yet rewarding on a personal level. It is the single most important foundation between the two in order for an accountant to achieve the best outcomes for their client. While it’s imperative for an open line of communication between bothRead more

  On Sunday 26 June, just six days before the federal election, the ALP’s Shadow Treasurer Chris Bowen unveiled the final pieces of their economic plan. I was alarmed by one piece of it, as were most, I think, of my colleagues and workmates. Mr Bowen announced they would save the government some money byRead more

Taxpayers who are registered for GST must report their tax obligations to the ATO on a Business Activity Statement or BAS. Depending on the turnover of your business you have the option of reporting and paying your tax obligations on an annual, quarterly or monthly basis. When you register for GST it is important toRead more

EMPLOYER OBLIGATIONS Employer obligations are an ongoing consideration for business owners and their employees – with ways to improve efficiency in meeting these obligations continuing to evolve. In regards to understanding your employer obligations and rights as an employee – I’ll briefly touch on what Australian law has put in place and how to properly manageRead more