July 2016

The ATO has a database of “small business benchmarks” against which it compares lodged information. But business owners can also benefit by using the small business benchmarks to compare their own performance. (more…)

The ATO has issued guidance on claiming mobile phone, internet and home phone expenses.

It says that if you use any of these for work purposes, you may be able to claim a deduction if there are records to support your claims. But the ATO points out that use for both work and private use will require you working out the percentage that “reasonably relates” to your work use. (more…)