Tax changes, cash payments and the weirdest tax deductions revealed

Welcome to the August issue of Your Knowledge, where we are covering all of this and more! The top story this month looks into the low and middle income tax offset (LMITO) and the confusion surrounding these changes. It also covers the new restrictions to businesses accepting cash payments, the differences between Uber and traditional taxis in relation to FBT legislation, new requirements for Australian pensioners living overseas, how compensation from financial institutions is treated for tax purposes, and some of the weirdest tax deductions the ATO saw in 2018-19.

As always, if you have any questions feel free to give us a call at the office!  

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