Super

New Victorian property tax will affect investment decisions: legal specialist

SMSF trustees that invest in qualifying use property in Victoria from 1 July 2024 will need to be aware of how the new...

05 June 2024 • By Keeli Cambourne

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Regulation

Dob-in window ‘nearly impossible’ for practitioners, joint bodies warn

A submission to the TPB says the 30-day time frame needs to be extended to at least three months amid heavy workloads...

05 June 2024 • By Christine Chen

Super

Div 296 tax carve outs include special super interests

It has already been revealed that there will be some superannuation members who will be excluded from Division 296,...

04 June 2024 • By Keeli Cambourne

Tax

ATO offers further guidance on self-assessing for new NFP return

The Tax Office has stressed that the main purpose of a community service organisation must be altruistic to be...

05 June 2024 • By Miranda Brownlee

Regulation

AAT upholds tax agent termination over unpaid tax debts

The AAT has affirmed a decision by the TPB to terminate a tax practitioner’s registration due to significant personal...

05 June 2024 • By Miranda Brownlee

Business

Forvis Mazars merger to transform global accounting network

The merging of two powerhouse professional services organisations is set to shake up the global industry and transform...

04 June 2024 • By Miranda Brownlee

Regulation

TPB bans agent for misappropriating $2.5m in client funds

The TPB has terminated a tax agent’s registration after allegedly misappropriating more than $2.5 million in client...

04 June 2024 • By Miranda Brownlee

Regulation

IPA calls for 6-month delay to dob-in obligations

The 1 July 2024 start date does not provide sufficient time for the TPB’s guidance to be finalised and communicated to...

04 June 2024 • By Miranda Brownlee

Tax

Taxpayers warned on risks with rushed tax returns

CPA Australia says cost of living pressures may drive some taxpayers to rush their return this year to receive an...

02 June 2024 • By Miranda Brownlee

Tax

Lawyer issues reminder on tax risks with UPEs

Unless carefully managed, unpaid present entitlements (UPEs) and beneficiary accounts in family/discretionary trusts...

31 May 2024 • By Keeli Cambourne

Regulation

Practitioners ‘taken by surprise’ by breach reporting requirements, says CPA

The TPB has assured tax practitioners that it will take a transitional approach with the breach reporting requirements...

03 June 2024 • By Miranda Brownlee

Tax

ATO flags critical considerations with family trust elections

Family trust elections and interposed entity elections “should not be set and forget” by trustees or their tax...

03 June 2024 • By Miranda Brownlee

Super

Downsizer contributions can be time critical

With the expansion of the downsizer contribution, the timing of when it is used can affect how to use non-concessional...

30 May 2024 • By Miranda Brownlee

Tax

ATO releases decision impact statement on Minerva decision

The decision does not change the Tax Commissioner’s view that schemes that include a trustee’s exercise of discretion...

30 May 2024 • By Miranda Brownlee

Regulation

ASIC pushes for new penalties for misuse of accountants’ certificates

The corporate regulator wants to see penalties and sanctions applied where the certificates are misused for...

31 May 2024 • By Miranda Brownlee

Business

SME employee growth rate on ‘downwards slope’, recent data reveals

The year-on-year employee growth rate for small business has halved since April last year, according to the latest...

31 May 2024 • By Miranda Brownlee

Tax

Committee pushes for tax changes for large consulting firms

The inquiry into the NSW government’s use of consulting services says large consulting firms should be required to pay...

29 May 2024 • By Miranda Brownlee

Regulation

Qld women sentenced over illegal COVID-19 scheme claims

Three Queensland women who illegally attempted to access superannuation payments under a federal government COVID-19...

30 May 2024 • By Miranda Brownlee