Published on Tuesday, 23 July 2024 at 9:00:00 AM

The following information comes directly from the Australian Taxation Office (ATO).

The range of common work-related deductions and occupation-specific industry guides have been updated in the ATO’s 2024 Tax Time Toolkit, making it a go-to for understanding work-related deductions. The Toolkit contains 50+ PDF products, making it even easier to download and refer to and share with your team if you’re a small business!

You can also refer to the page on the ATO’s website called What’s New, which outlines any new topics or changes that you need to know about. Alternatively, they have a wide range of information based on the top call centre questions that they received, meaning that there could be an answer to a question or topic you need help with.

Alternatively, if you’re running some or all of your business from home, it’s important to understand what expenses you can claim, and which deduction method works best for your situation.

Non-charitable not-for-profits (NFPs) with an active Australian business number (ABN) will also now need to lodge an annual NFP self-review return to confirm their eligibility to self-assess as income tax exempt. The NFP self-review return can be done online, with a guide available as well. Alternatively, a registered tax agent can lodge on behalf of an NFP through the online services for agents.

Tax Time Toolkit

What's New from the ATO?

About NFP Self-review Returns

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