Carmelo Mirabile & Co in Mount Evelyn, Victoria, Australia | Accountant

Carmelo Mirabile & Co

Locality: Mount Evelyn, Victoria, Australia

Phone: +61 3 9736 1877

Address: 43 Wray Crescent 3796 Mount Evelyn, VIC, Australia

Website: http://www.cm-cpa.com.au/

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• Tax preparation service
• Accountant

20.01.2022 ATO IS EXPECTED TO DOUBLE RENTAL PROPERTY AUDITS FOR THE 2019 YEAR Following ATO audit activity in the 2017/18 financial year which has resulted in $1.3 million in penalties applied to taxpayers, it is expected that the ATO will increase its audit activity on rental property claims in the 2019 year. Some of the concerns that the ATO has are:-... (i) claiming purchase costs as a deduction (ii) borrowing expenses claims (iii) differentiating between capital works and repairs (iv) incorrectly claiming initial repair as a deduction (v) apportioning of loan interest claims where private expenses have been added to the loan over time (vi) correct apportioning of expenses (vii) travel expenses claims (no longer allowed for domestic property) (viii) whether your property is genuinely available for rent To avoid the pitfalls, taxpayers should make sure they have full and proper records to substantiate all their claims

20.01.2022 SINGLE TOUCH PAYROLL (STP) - IT IS NOW MANDATORY The extension of Single Touch Payroll to employers with 19 or fewer employees was passed by both houses on 12th February, 2019. What exactly is Single Touch Payroll? Single Touch Payroll, also called STP or one touch payroll is a new way of reporting to the ATO your employees' salaries and wages, PAYG withholdings, and superannuation, every time you pay your employees. It is live reporting of that information as each pay cycle ...happens. It will be used by the ATO in identifying employers that do not meet their super guarantee (SG) superannuation payment obligations on time or not at all, which will result in early audits and interventions resulting in the imposition of severe penalties and ultimately making the unpaid superannuation payments non-deductible. STP reporting has been compulsory since 1 July 2018, for employers with 20 or more employees. It has now also become mandatory from 1st July, 2019 for employers with 19 or fewer employees. Some concessions apply for closely held employees.

13.01.2022 BEWARE OF TELEPHONE SCAMS (pre-recorded robocalls) DON’T BE FOOLED!!! A recent spate of robocall scams are spoofing genuine ATO phone numbers to display on caller IDs. The ATO will never call you threatening immediate payment or arrest for a tax debt. The ATO will never:-... issue a pre-recorded message (robocall) to your phone present a phone number on caller ID threaten immediate arrest, jail or deportation for unpaid tax debts demand immediate payment of a tax debt by direct credit to a personal bank account, via iTunes or Google Play cards, pre-paid Visa cards, or cryptocurrency refuse to allow you to speak with a trusted advisor or tax agent attempt to keep you on the line until you make a payment. Scammers are becoming more sophisticated, using technology that allows them to replicate caller IDs, websites and email addresses. The best way to protect yourself against scams is to: never share any personal details such as your tax file number, date of birth, credit card or bank details, unless you are certain you know you can trust the person you are dealing with. know the status of your tax affairs. You can check this by personally logging in to your own myGov account, if you are our client, by calling our office and we will check for you, or contacting the ATO directly on 1800 467 033. If you have provided your tax file number (TFN) to someone who should not have it, or you suspect someone is misusing your TFN, phone the ATO Client Identity Support Centre on 1800 467 033 so they can discuss the best way to protect your tax account. If you receive a suspicious email claiming to be from the ATO: do not : o click on any links o open attachments o respond Immediately: o forward the entire email to [email protected] o delete any record of the scam email from your account.