Tax

Tax

‘Depleted savings, credit card debt leave economy on last legs’

Maxed-out credit cards together with household savings at a 20-year low are alarming portents for the looming...

15 September 2023 • By Philip King

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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

Tax

ATO strikes without warning in harder line on debt

Enforcement action without warning is an unmistakeable sign that the ATO has adopted a tougher line on debt recovery,...

08 September 2023 • By Philip King

Tax

How Victoria sows uncertainty with land Windfall Gains Tax

In operation since July, the levy on uplift from rezoning adds another layer of cost and complexity to land...

08 September 2023 • By Jeremy Makowski