Tax

Tax

Give $3m-plus super balances free rein to restructure: NTAA

Tax-free, age-unrestricted withdrawals should be allowed before the extra tax is imposed, says accounting body.

18 April 2023 • By Philip King

more from tax

Tax

Inefficient, complex FBT regime ripe for overhaul

With its archaic provisions and heavy compliance burden, fringe benefits tax desperately needs modernising.

14 April 2023 • By Robyn Jacobson

Tax

Social media side hustles all count as income, ATO warns

Many clients will need reminding by their accountants that they have to declare secondary sources of income, including...

14 April 2023 • By Josh Needs

Tax

ATO adds PAYGW prefill to activity statements

In the 2023–24 financial year, 3,000 employers will also be randomly selected to receive reminders regarding the...

13 April 2023 • By Josh Needs

Tax

Accountants must alert clients to LMITO, remind them who to blame

Alarm bells in the media could mean angry clients, so tax agents need to explain the change or risk being a target.

12 April 2023 • By Josh Needs

Tax

Expect rates to stay higher for longer, and plan for rises

Interest rates will remain at today’s “elevated” levels and the only way from here is up, says the senior manager of...

06 April 2023 • By Philip King

Tax

ATO calls on accountants to ensure smooth FBT returns

As the lodgment date looms, the Tax Office delivers an A to Z on FBT.

05 April 2023 • By Josh Needs

Tax

Accountants ‘need to raise their game on FBT’

The ATO wants tax practitioners to help police the system, says FBT specialist Paul Mather.

27 March 2023 • By Philip King