Tax News

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Tax News That Matters - For Individuals and Small Business

Latest ATO and Tax Updates in Australia

Improving the Commissioner’s general powers of administration

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

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ATO visa data matching program extended

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

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Proposed mechanisms for payday super

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

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Sharing Economy Reporting regime

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

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Targeted super concession changes looming

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

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Deductions relating to holding vacant land

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

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Tackling tax adviser misconduct: consultation on draft legislative reforms

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

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ATO crackdown on TPAR lodgments

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

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Reforms to tax adviser regulatory framework

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

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Tax Time 2023: ATO gives green light to lodge

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

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Does GST apply to crypto assets?

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

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Small business energy incentive

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

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Simplifying individual tax residency: consultation

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

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Small business bonus deduction: technology investment

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

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Claiming car expenses using the cents per kilometre method

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

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