Latest Precision News
Geeked out with our latest newsInterest expenses for rental properties
Interest is a common deduction claimed by taxpayers. Generally, interest is seen as inherently deductible where it is incurred in gaining or producing assessable income. An established factor from court cases is that the deductibility of interest depends on the...
New loss carry-back measure
The last Federal Budget included several tax changes designed to assist the Australian economy in recovering from the impact of the COVID-19 pandemic. The changes announced were the temporary re-introduction of the loss carry-back rules for corporate tax entities (it...
ATO’s cyber safety checklist
Scammers never seem to rest, with even the latest JobKeeper scheme coming in for some scam treatment. In a new update, the ATO reports receiving reports of email scams about JobKeeper and backing business investment claims. "The fake emails say we're investigating...