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Tax & Compliance
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Division 7A advice for clients ‘currently next to impossible’ The government has been called to clarify its position on the proposed changes to Division 7A ahead of the looming 1 July 2020 start date. Write comment (1 Comme...
Accountants underestimating depreciation for SMSF properties A depreciation specialist has cautioned accountants against underestimating the level of depreciation available to their SMSF clients who own residential property followi...
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New legislation broadens STP reporting scope Employers will voluntarily be able to report deductions related to child support from employee salary or wages through Single Touch Payroll if new draft legislation is pa...
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ATO updates disaster relief fund list The ATO has released an updated list of Australian disasters that meet the criteria for endorsement as tax-deductible funds. Write comment (0 Comments) ...
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ATO urged to democratise SG contribution treatment SMSF administrator Heffron SMSF Solutions has urged the ATO to democratise its treatment of employer superannuation contributions for tax deductibility purposes, arguing ...
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ATO grants automatic deferrals in bushfire support The ATO has granted an automatic two-month deferral for lodgements and payments to those impacted by the ongoing bushfire crisis. Write comment (0 Comments) ...
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AAT cautions ATO on labelling taxpayer as dishonest in GST case A belligerent taxpayer does not necessarily equate to a dishonest one, the Administrative Appeals Tribunal has told the ATO as it overturns a GST and LCT decision. ...
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Auditor-General questions ATO tax avoidance taskforce effectiveness Overall revenue raised by the ATO nearly doubled in 2016-17 with the establishment of the tax avoidance taskforce but a comprehensive methodology to track its effectivene...
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New individual residency rules put forward by Board of Taxation The Board of Taxation has released its preferred model for simplifying and modernising the current individual tax residency rules, based on a basic 183-day test. ...
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‘Visible, valued and owned’: ATO outlines super priorities for new year The ATO has renewed its commitment to making sure super is “visible, valued and owned” in 2020, naming consolidation of member accounts and reducing the incidence of ...
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Tax Office insurance data haul to capture ‘ordinary’ taxpayers The ATO’s pursuit of policy details from insurers is a “tried and tested way” of catching wealthy tax cheats, but its wide net could mean ordinary taxpayers get cau...
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Government urged to act on outstanding tax measures Chartered Accountants Australia and New Zealand has called for the government to tackle its long list of outstanding tax measures, warning that delays continue to cause u...
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