Tax News That Matters - For Individuals and Small Business
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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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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