Posts tagged "2023 tax returns"

The Australian Taxation Office is reminding businesses and tax professionals its technical help hotline will be disconnected in November, urging callers to visit its online self-help services instead.

Taxpayers who believe their tax affairs are straightforward have been given the "green light" by the ATO to go ahead and commence lodging their income tax returns.

Australian taxpayers are using TikTok to share their surprise and disappointment at their 2022-2023 income tax returns, highlighting some of the significant tax changes that came into effect last financial year.

ATO Assistant Commissioner Tim Loh said this week there are some key changes to look out for this tax time when claiming deductions.

The Technology Investment Boost promises 20% ‘bonus’ tax breaks to small businesses investing up $100,000 in new tech, equating to a maximum deduction of $20,000.

Taxpayers are being reminded by the Australian Taxation Office (ATO) not to rush lodging their annual income tax return from July 1.

Australian lawmakers only have a handful of days to enact $1.55 billion in 'bonus' tax deductions before the new financial year begins, leading the tax office to provide new guidance to small businesses banking on those kickbacks for their 2022-2023 tax return.