How the ATO uses small business benchmarks Recently, the ATO updated its small business benchmarks to include the 2021-22 income

Government to pay super on paid parental leave The government has announced that from 1 July 2025, it will commence

ATO concerned about compliance with Division 7A Division 7A of the Income Tax Assessment Act 1936 was introduced as a

ATO matching rental bond data with landlords tax returns Investment property owners beware! The ATO has signalled that its rental

Alternatives to employee declarations for FBT Employers that provide certain fringe benefits to their employees can now use appropriate alternative

Deductibility of self-education expenses The ATO recently released a final taxation ruling (TR 2024/3) which consolidates and updates its previous

EV home charging rates for FBT purposes Since the introduction of EV incentives by various state governments to encourage the

Tax implications of receiving personal services income Personal Services Income (PSI) generally only applies to individuals that receive more than

Foreign investors to pay increased fees to purchase established property In response to various media commentary and public sentiment that

ATO focusing on illegal early release of superannuation As a new calendar year commences, the ATO’s priorities in the SMSF

Enhancements to TPB sanctions regime open for consultation In response to the tax adviser misconduct saga that unfolded during 2023,

Proposed changes to stage 3 tax cuts The talk about the stage 3 tax cuts has reached fever pitch in

Draft ATO determination on deductibility of financial advice fees Late last year, the ATO released a draft taxation determination (TD

High Court decisions re employee v contractor spark ATO ruling Following the landmark High Court decisions in Construction, Forestry, Maritime,

Deductions denied for holiday homes not genuinely available for rent As the Christmas holiday period approaches, many individuals may be

ATO data-matching: directors and officeholders The ATO has announced a data-matching program which will acquire officeholder data from ASIC, the

ATO GST compliance focus areas At a recent conference, the ATO outlined its key areas of focus for GST compliance.

When can you get an extension of time to lodge your tax return? Tax time 2023 has now officially ended,

Regulation of crypto exchanges on the horizon As foreshadowed by the government and supported by many consumer advocates, the government

Enhancement to the Commissioner’s general powers of administration The Inspector-General of Taxation and Taxation Ombudsman (IGTO) recently released a report

ATO extends visa data matching program for three years The ATO has advised that its visa data matching program has

Consultation paper on proposed mechanisms for payday super Unpaid superannuation is equivalent to wage theft and is detrimental to the

Sharing economy reporting regime started The Sharing Economy Report Regime (SERR) has now commenced for the 2023-24 income year. Only

Tax on unrealised super fund earnings In a bid to improve the fiscal sustainability of the superannuation system, one of

Clarification on deductions related to holding vacant land Deductions for losses and outgoings that relate to holding vacant land on

Reform of promoter penalties, information sharing & TPB As a part of its response to the recent scandal involving conflict

ATO crackdown on non lodgment of Taxable Payments Annual Report The ATO has reminded relevant taxpayers to lodge their Taxable

Planned changes to regulation of tax advisers The government has announced major reforms to the tax adviser regulatory framework in

Tax Time 2023: lodgment period underway With only a little more than a month into tax time, the ATO has

Does GST apply to crypto assets? As digital currency becomes more common place in a business context both in terms

Small business energy incentive: 20% bonus deduction Small businesses with an aggregated annual turnover of less than $50 million could

Consultation on proposed new individual tax residency rules The government is currently seeking feedback on design features of the Board

Small Business Technology Investment Boost Small businesses can now access a 20% bonus deduction for eligible expenditure incurred on business

Using the cents per kilometre method to claim car expenses The cents per kilometre method is a simple way to

Taxable Payments Annual Reports Due Soon You will need to lodge a Taxable Payments Annual Report (TPAR) if your business

Motor vehicle data matching program extended by ATO The ATO has extended the motor vehicles data matching program to include

New look ATO Charter Following the announcement of a review of its Charter (previously known as the Taxpayers’ Charter) in

ATO Risk Assessment Framework for Central Management & Control The ATO has released an update to its Draft Practical Compliance

ATO data matching landlord and income protection insurance This tax time, the ATO is ramping up its data matching program

Alternatives to evidentiary documents for FBT purposes With the passing of legislation to reduce FBT compliance costs on 23 June

ATO reviewing property developments that divert profits to SMSFs Taxpayers using special purpose vehicles (SPVs) to divert profits from property

Updated Tax Ruling on individual tax residency tests The long awaited tax ruling on individual tax residency has been released

Tax lodgment amnesty for small business Small businesses are encouraged to take advantage of the lodgment penalty amnesty program to

ATO focus areas for tax time 2023 Tax time 2023 is fast approaching and as in previous years, the ATO

ATO home charging rate for EVs With the increasing popularity and uptake of EVs, the ATO recently released a draft

Property investors beware: ATO data matching program Property investors should be aware that the ATO has announced the commencement of

FBT electric cars exemption It’s FBT time again! For the 2022-23 FBT year it’s important to remember that your business

Record-keeping school if you don’t keep proper business tax records Late last year, the Treasury Laws Amendment (2022 Measures No.

Car parking benefits: primary place of employment Employers that have provided car parking benefits for the 2022-23 FBT year should

Foreign companies have until 30 June to implement governance changes Foreign incorporated companies that may have their tax residency status

Proposed public beneficial ownership register A consultation paper on a proposed public beneficial ownership register has been released by the

Compulsory reporting to ATO for sharing economy platforms Compulsory reporting of information to the ATO for sharing economy platforms is

FBT car parking benefits: broad test for “primary place of employment” Businesses that provide FBT car parking benefits should be

Personal services income The tax legislation contains special rules about personal services income (PSI). The PSI rules are aimed at

Tax crack down coming Against a sobering backdrop of economic data and a record Budget deficit, the Treasurer announced the

New lower fixed rate method for claiming WFH expenses Taxpayers could soon be dealing with more paper work at tax

IGOT interim report on ATO’s handling of objections The result of a recent review into the ATO’s handling of objections

Practical Compliance Guideline PCG 2019/5 updated for COVID Practical Compliance Guideline PCG 2019/5 has recently been updated by the ATO

Updated ATO Guide – Market valuation for tax purposes The ATO has released an updated version of its online Guide,