The Latest Breaking News from Tim Loh

Don't expect many happy returns from the tax office

Australians may be hanging out for the new financial year as cost-of-living pressures bite, but there are reasons to expect a smaller tax return this year.

AAP · Jun 29, 2023

$700 tax break for low earners may lift returns

he Low Income Tax Offset (LITO) is still around and is worth up to $700 depending on your income, with those earning up to $66,667 eligible.

The New Daily · Jun 22, 2023

‘Declare it!’: Tax office targets side hustles as nearly 900,000 earn a second income

There are penalties for getting it wrong, and this year the ATO will have its sights on those with side hustles who don't report their income.

The New Daily · May 19, 2023

The 2022 tax return deadline is looming: When do I need to lodge my expenses? How much will I get back?

The deadline to lodge your tax return for the last financial year is approaching fast. Here's what you need to do to avoid copping fines.

ABC News · Oct 19, 2022

Bitcoin helped Joe secure his fortune but he would no longer recommend it as investors risk financial ruin

Joe Bridge has bought two motorbikes, two boats and his first house with the $1 million-plus he made on bitcoin, but he doesn't recommend trying to replicate his success.

ABC News · Jun 30, 2022

‘Take your time’: ATO urges Australians to delay filing tax returns

Millions of Australians are expected to rush in and file their 2021-22 tax returns over the next month, with bumper refunds on the table this year.

The New Daily · Jun 29, 2022

Petrol, Netflix And RATs: Here’s All The WFH Expenses The ATO Is Cracking Down On This Tax Szn

Tax savvy girlies beware

Pedestrian.tv · Jun 28, 2022

Tax return 2022: what expenses can I claim if I’m working from home?

From electricity and internet bills to printing paper and ink, here’s what the ATO says you can and can’t claim for your home office

The Guardian - AU · Jun 27, 2022

Trying to recoup the higher cost of living via your 2022 tax return? 'Not on', ATO warns taxpayers

Australians not declaring crypto investments and over-claiming work-related expenses to help with the rising cost of living could come under ATO fire.

ABC News · Jun 26, 2022

Get your tax right after COVID-19: ATO

The Australian Taxation Office anticipates COVID-19 will continue to impact the income and deductions taxpayers will be reporting in their returns this year.

AAP · Jun 6, 2022