Tax News

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Tax News That Matters - For Individuals and Small Business

Latest ATO and Tax Updates in Australia

FBT: alternatives to employee declarations

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

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Refresher on deductibility of self-education expenses

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

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FBT electric vehicle home charging rate

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

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Are you receiving personal services income?

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

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Foreign investors to pay more for residential property

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

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ATO’s continued focus on illegal early release of super

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

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Consultation on enhancing TPB sanctions regime

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

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Stage 3 tax cuts and proposed changes

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

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Deductibility of financial advice fees

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

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Employee vs contractors: new ATO Ruling

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

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Holiday homes not genuinely available for rent

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

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ATO data-matching: directors and officeholders

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

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ATO’s GST compliance focus areas

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

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Circumstances for tax return lodgment deferral

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

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Regulation of crypto exchanges coming

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

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