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  1. Tribunal rules in favour of taxpayer in tax evasion case

    has successfully proven that amended income tax assessments by the Commissioner of Taxation were excessive in a decision last week, Kirtlan and Commissioner of Taxation (Taxation) [2025] ARTA 539. The Administrative Review Tribunal set aside an...

  2. Corporate leader hopeful Greens will see the light on taxing unrealised capital gains

    it is the taxing of unrealised capital gains that has not just the SMSF sector, but the broader corporate world, concerned. Last week, Wilson told SMSF Adviser that many in the corporate sector have understood the significant unintended consequences of...

  3. Hold off on major changes until final Div 296 bill is passed, experts warn

    help of the Greens. “It is inevitable that Div 296 will be reintroduced and passed. Notably the Prime Minister reiterated, last week, that the cap will not be reduced to $2 million as demanded by the Greens. Presumably the new tax will become effective...

  4. Air fryer fails tax deduction ‘pub test’: ATO

    had tried to get past, with many not making the cut. The ATO said some of the most “outrageous” deduction attempts it saw last year included a mechanic trying to claim an air fryer, microwave, two vacuum cleaners, a TV, a gaming console, and gaming...

  5. Merchant decision fortifies ATO’s position on Part IVA, accountants warned

    demonstrates the full reach of Part IVA and has important implications for SME advisers, a tax specialist has cautioned. Last month, the Full Federal Court handed down its decision in Merchant v Commissioner of Taxation [2025] FCAFC 56, which involved...

  6. Div 296 now a matter of when, not if

    she said. “There have been many voices calling for a change in method such as one that doesn’t tax unrealised gains. In the last Parliament, concern over that specific design feature on the crossbench was enough to discourage the government from...

  7. Accounting industry awaits federal election outcome

    the outcome of many of these tax incentives, along with other tax reforms that are yet to be enacted. Labor's policies Last month, the prime minister announced that Labor would introduce a $1,000 instant tax deduction for work-related expenses. Prime...

  8. Where did the fiscal discipline go?

    offer a vision of a better Australia and reform the tax and regulatory regimes to future proof our nation. A key example. Last week, drowned out by other news, the Coalition announced three years of tapered tax offsets for new small businesses, and...

    • Type: Article
    • Author: Chris Freeland, CPA Australia
    • Category: Tax

  9. Making sense of the election policies

    2025 federal election, with polling day on 3 May 2025, the respective parties have spent months, and more particularly the last five weeks, setting out their campaign policies should they be elected to form government. While a number of tax and...

  10. Depreciation expert urges property investors to leverage tax depreciation

    things. Why is it important? Because it means more money in your pocket.” “The first year claim out of the reports we did last year was about $11,000, that was the average. Some get more; some get less. That’s a residential average, and that’s a fair...

  11. Barrister facing suspension accused of tax failures

    her practising certificate, but will soon face an “urgent” hearing to determine allegations of non-compliance. At the end of last year, Andrews had her certificate suspended after the board claimed she had allegedly worked without a practising...

    • Type: Article
    • Author: Naomi Neilson
    • Category: Business

  12. Coalition unveils new tax incentives as part of small business package

    e-commerce tools and cyber security. These latest measures follow other tax incentives announced by both major parties last week, including Labor's $1,000 standard tax deduction and the Coalition's plans to allow first home buyers to claim a tax...

  13. ATO to appeal ART decision on truck driver’s meal expenses

    ARTA 224, which determined that deductions claimed by a long-haul truck driver for meal expenses should be allowed in full. Last week, the Commissioner of Taxation filed a notice of appeal against the ART's decision in the Federal Court. In its decision...

  14. ATO to increase fixed rate for working from home expenses to 70c

    rate method was previously set at 67 cents for the 2022–23 and 2023–24 income years and was 52 cents per hour for 2021–2022. Last year, ATO assistant commissioner Rob Thomson reminded taxpayers that anyone using the fixed rate method will need a record...

  15. Antique goods land GST fraudster with prison sentence

    when he tried to avoid ATO auditors but “could not escape the consequences of his deceptive actions.” Two months after the last GST refund was paid, ATO investigators and the Australian Federal Police conducted a search warrant at Merrett’s residence,...

  16. Industry groups urge major parties to rule out taxing unrealised gains

    Taylor strongly reiterated the Coalition’s opposition to the $3 million super tax in Momentum Media’s Election 2025 event last week. He said the Coalition has not softened its stance on the Division 296 tax on assets above $3 million within super,...

  17. CA ANZ throws support behind Coalition’s plans for accountants in advice

    financial professionals to “support Australians to rebuild wealth”. Speaking at Momentum Media’s Election 2025 event last week, shadow financial services minister Luke Howarth reiterated the Coalition’s intention to make it easier for accountants to...

  18. ATO VIPER taskforce arrests 14 people in latest illicit tobacco blitz

    been arrested following the uncovering of $4.8 million worth of illicit tobacco during an ATO VIPER Taskforce investigation. Last week, detectives from the VIPER taskforce and Victorian Police conducted warrants at 12 tobacco stores in Melbourne,...

  19. ART affirms TPB decision on registration of tax agent

    has upheld a decision by the TPB to reject a former tax agent’s request for registration as a tax agent. In a decision last week, the Administrative Review Tribunal of Australia (ART) has affirmed a decision by the Tax Practitioners Board on an...

  20. Grant Thornton International names Greg Keith as CEO-elect

    the next chapter in our history.” Geh also noted Bodin had been an “exceptional leader” of the international network for the last eight years and oversaw an increase in global revenue from US$5 billion to US$8 billion since he took over the role in...

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