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With the cost of living crisis and increase in interest rates hitting Australian households, there is growing evidence that many are falling into …

The ATO has warned taxpayers against entering into a scheme through their self managed superannuation fund (SMSF) which claims to allow individuals to …

The Federal Government has released plans to introduce a small business energy incentive to help small and medium businesses electrify and save on …

The ATO has recently issued new GST guidance specifically relevant to crypto assets. For GST purposes, the ATO considers that digital currency is a …

Remember temporary expensing, which allowed just about every business (unless annual turnover was at least $5 billion) to immediately write off the …

Businesses that make payments to contractors may need to report these payments and lodge a taxable payments annual report (TPAR). You will need to …

Movement may be afoot on the complex issue of individual tax residency in Australia. In 2019, the Board of Taxation released a report which contained …

Buying an existing business requires careful consideration. It is important to conduct a thorough due diligence review before deciding to buy. The …

This tax time, the ATO is cracking down on taxpayers not lodging their taxable payments annual report (TPAR) on time. It has recently issued more than …

Small businesses may be able to get a bonus 20% tax deduction for any business expenses and depreciating assets used to improve their digital …

Retirees who draw an account-based pension from their super need to be aware that the 50% reduction inthe minimum pension drawdown rate for …

As foreshadowed last year, the “buy now pay later” (BNPL) market will soon be facing more regulation. Assistant Treasurer Stephen Jones recently …

The cents per kilometre method is a simple way to work out how much you can deduct for car-related work or business expenses. Only individuals, …

The ATO has extended its motor vehicles data matching program once again to encompass the 2022–2023 to 2024–2025 financial years. For each financial …

Single Touch Payroll (STP) was introduced as a way for employers to send super and tax information directly to the ATO through the use of STP-enabled …

The government has announced that from 1 July 2026, employers will be required to pay their employees’ super at the same time as their salary and …

Continuing its theme of closing the tax gap of individuals for budget repair, the ATO has notified the public of the extension of an existing …

The ATO has reminded eligible small business taxpayers to take advantage of the lodgement penalty amnesty program announced in the recent 2023–2024 …

The Federal Government has warned of scammers targeting Australians ahead of tax time 2023. The number of scam reports received to date this year has …

As a new financial year gets underway, it’s time to start thinking about whether your tax planning is in order. Tax planning requires considering your …

Tax time 2023 is fast approaching and as with previous years, the ATO has provided some insights to the areas it will be focusing on consisting of …

Personal tax rates and offsets for 2023–2024 and beyond With no announced changes in the Federal Budget to personal tax rates and offsets for the …

As flagged earlier in the year when the announcement was made, the Federal Government recently released a consultation paper on its proposal to reduce …

Individual property investors should be aware that the ATO has announced a new data matching program that will obtain data from various financial …

With the increasing popularity and uptake of electric vehicles (EVs), the ATO has now released a draft compliance guideline which contains the …

Super to be paid on payday from 1 July 2026; more action to catch non-payers The Budget papers confirmed the Government’s intention to require all …

Have you got your tax sorted?  Tax time is just around the corner, so it’s time to start collecting all the documentation and information you …

Small business lodgment penalty amnesty The Government announced that a lodgment penalty amnesty program will be provided for small businesses with …

Small business instant asset write-off: $20,000 threshold for 2023–2024 The Government will temporarily increase the instant asset write-off threshold …

Personal tax rates unchanged for 2023–2024 In the Budget, the Government did not announce any personal tax rates changes. The Stage 3 tax changes …