Tax

Tax

NSW fuels budget turnaround through compliance, tax hikes

The government’s budget closes loopholes and funds Revenue NSW to improve tax “fairness and integrity”.

20 September 2023 • By Christine Chen

more from tax

Tax

$20k instant asset write-off to get 1-year extension

The amendment will hold off the threshold reverting to $1,000 until June 30 next year.

15 September 2023 • By Christine Chen

Tax

Qld retreats from payroll tax on medical centre GPs

Treasurer promises ruling next week to confirm patient-to-GP payments will avoid the levy.

15 September 2023 • By Philip King

Tax

ATO interest charges soar to highest level since GFC

The general and shortfall rates for late tax payments rise for the eighth quarter in a row.

14 September 2023 • By Philip King

Tax

Division 7A loans a looming crisis, accountants warned

Accountants must proactively address their clients’ Division 7A loans with the interest rate jumping 73 per cent this...

13 September 2023 • By Miranda Brownlee

Tax

Accounting software subs eligible for 20% bonus deduction

The ATO specifies ongoing subscriptions for accounting programs as qualifying for the technology investment boost.

12 September 2023 • By Philip King

Tax

Side hustles run from home can trigger CGT, tax lawyer warns

Conducting a business at your main residence imperils the levy exemption when the house is sold.

11 September 2023 • By Philip King

Tax

Tax debts ‘at double pre-pandemic levels, $1m common’

More businesses have tax liabilities and interest charges mount up quickly, specialist ATO negotiator Olga Koskie says.

11 September 2023 • By Philip King