Apr 10, 2024
Revised stage 3 tax cuts now law
Now that the revised stage 3 tax cuts have passed all stages of Parliament and received Royal Assent, the new rates are law and will apply from 1 July 2024. While the revised rates won’t apply for
Apr 10, 2024 ATO’s use of small business benchmarks
Recently, the ATO updated its small business benchmarks to encompass the 2021-22 income year. While the ATO promotes these benchmarks as an aid for small businesses to enable them to compare
Mar 18, 2024
SBSCH and SMSF bank account validation
With the year-on-year growth in the number of SMSFs in Australia, the ATO is finally rolling out a extra security feature for SMSFs that use the Small Business Superannuation Clearing House (SBSCH)
Mar 18, 2024 How much does negative gearing really cost the nation?
Since the government’s announced changes to the Stage 3 tax cuts to give lower income earners more benefits, the chorus of voices advocating for changes to other aspects of the tax system, such
Mar 18, 2024
FBT electric vehicle home charging rate
Since the introduction of EV incentives by various state governments to encourage the uptake of EVs and other zero emissions vehicles, the market share of EVs has significantly increased from around
Feb 13, 2024
No super, No Life!
I was travelling in Japan on a family holiday recently and browsing a stationary store came across a number of pictures with the caption “No Super, No Life”. This is probably more relevant in
Feb 13, 2024
Stage 3 tax cuts vs proposed changes
The talk about the stage 3 tax cuts has reached fever pitch in recent days. The changes were originally legislated by the previous government in 2019 with support of the then Labor
Feb 13, 2024 Employee vs contractors: new rules
Following on from two prominent High Court decisions in Construction, Forestry, Maritime, Mining and Energy Union v Personnel Contracting Pty Ltd [2022] HCA 1 and ZG Operations Australia Pty Ltd
Jan 9, 2024
New ASIC enforcement priorities 2024
With the end of the year fast approaching, ASIC has announced its enforcement priorities for 2024. While ASIC’s enduring priorities of market integrity, protecting financially vulnerable consumers,
Jan 9, 2024
Holiday homes not genuinely available for rent
As the traditional holiday period approaches, many individuals may be heading to their holiday properties to celebrate with family or friends or letting their loved ones make use of the properties.
Jan 9, 2024
ATO areas of interest for the coming year As the year draws to an end, the focus of the ATO has moved to the 2024 year. At a recent conference, the Second Commissioner of Client Engagement, Jeremy
Dec 3, 2023
Employer SG obligations: annual report
Each year the ATO releases a report containing the latest annual statistical results for employer super guarantee (SG) compliance and obligations, and this year is no exception.  According to the
Dec 3, 2023
Deductions related to holding vacant land
Deductions for losses and outgoings that relate to holding vacant land on which there is not substantial and permanent structures in use or available for use has been denied since 1 July 2019.
Dec 3, 2023
ATO pauses debts on hold campaign In response to community feedback and perhaps negative commentary in the media, the ATO has announced it is pausing its “awareness campaign around tax
Nov 15, 2023
Sharing Economy Reporting regime
The Sharing Economy Report Regime (SERR) has now commenced, for the 2023-24 income year. Only transactions for supplying taxi travel/ride sourcing and short-term accommodation need to be reported
Nov 15, 2023
Proposed mechanisms for payday super
Unpaid superannuation is equivalent to wage theft and is detrimental to the retirement income of many Australians. That’s why in the 2023-24 Federal Budget, the government proposed measures to
Nov 15, 2023
International businesses and GST International businesses that have sales connected to Australia over a certain threshold may need to register and pay GST in Australia. This applies
Oct 8, 2023
Targeted super concession changes looming Click here for more information.     Speak to one of our accountants if you have any questions about the changes in tax for