Tax

Tax

Top adviser calls for end to tax system tinkering in federal budget

When trust taxation, residency, Division 7A, and FBT issues even have accountants confused, it shows wholesale changes...

29 April 2024 • By Christine Chen

more from tax

Tax

CGT, negative gearing reform could save $60bn, analysis finds

Modelling for proposals to dial back property tax concessions finds billions could be freed up every year to address...

24 April 2024 • By Christine Chen

Tax

‘Take advantage of deductions’ ahead of tax cuts, tax expert advises

Accountants should look for opportunities to bring forward deductions and apply them to this year’s income ahead of...

24 April 2024 • By Miranda Brownlee

Tax

Accountants cautioned on ‘unexpected tax consequences’ with Division 7A loans

The ATO has reminded tax professionals about the critical requirements for correctly managing Division 7A loans for...

23 April 2024 • By Miranda Brownlee

Tax

ATO explores ‘digitised guidance’ to combat Division 7A issues

Embedding ATO advice and guidance into software solutions will detect and correct errors with Division 7A ahead of...

18 April 2024 • By Miranda Brownlee

Tax

Tax expert pushes for permanent change with instant asset write-off threshold

Amendments before Parliament will see a more significant increase to the instant asset write-off threshold but for a...

16 April 2024 • By Miranda Brownlee

Tax

Broking associations hit back at payroll tax decision

The outcome of a payroll tax case by the Supreme Court of NSW sets a “dangerous precedent” and is based on “flawed”...

16 April 2024 • By Annie Kane

Tax

ATO flags trust administration changes ahead of 1 July

The ATO has provided details on tax return changes for the 2023–24 year as part of the modernising trust...

15 April 2024 • By Miranda Brownlee