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Tax
Professional profits guidance a ‘blunt tool’ for assessing risk
Arrangements that fail to satisfy a gateway or fall into the higher risk zone under PCG 2021/4 may increase audit risk...
18 September 2023 • By Miranda Brownlee
Tax
‘Depleted savings, credit card debt leave economy on last legs’
15 September 2023 • By Philip King
Tax
$20k instant asset write-off to get 1-year extension
15 September 2023 • By Christine Chen
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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
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