Tax News

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Tax News That Matters - For Individuals and Small Business

Latest ATO and Tax Updates in Australia

Tax Time 2024: focus on rental property owners

Inflated rental property claims in focus for tax time 2024 The ATO has flagged inflated rental property claims as one

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Tax time reminders for small businesses

Tax time 2024: reminders for small business As tax time 2024 approaches, the ATO has released some important reminders for

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Get ready for tax time 2024

Tax time 2024 – ATO focus areas As the ATO gears up for tax time 2024, it has flagged three

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ATO data-matching: crypto assets

ATO crypto assets data-matching program Hot on the heels of reports that a growing number of SMSFs are sustaining significant

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HECS-HELP debt to increase with indexation

Student loan debts to increase from 1 June 2024 due to indexation The HECS-HELP loan program is part of the

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Navigating complexities of SMSF crypto investments

Difficulties with SMSFs investing in crypto assets The digital currency landscape continues to be treacherous terrain for Self-Managed Superannuation Fund

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Trust reporting changes from 1 July 2024

Changes to trust reporting Changes to simplify reporting for trustees and beneficiaries are commencing from 1 July 2024 as part

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Fast track finalisation of certain deceased estates tax affairs

Fast track finalisation of less complex estate tax affairs The ATO has recently released an updated guideline (PCG 2018/4) that

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ATO targeting false invoicing schemes

Fake invoice schemes targeted by ATO The Serious Financial Crime Taskforce (SFCT) led by the ATO is warning businesses against

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Old Tax Debts: IGTO weighs in

Inspector General of Taxation and Taxation Ombudsman issues guidelines re notification of debts owing to government In response to criticism

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Changes proposed for annual superannuation performance test

Proposed changes to the annual super fund performance test The annual superannuation performance test was introduced in 2021 by the

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ATO use of small business benchmarks

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

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Superannuation on Paid Parental Leave

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

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ATO concerns over Division 7A

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

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ATO rental bond data matching program continues

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

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