Tax News That Matters - For Individuals and Small Business
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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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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