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Changes to simplify reporting for trustees and beneficiaries are commencing from 1 July 2024 as a part of the Modernisation of Trust Administration Systems (MTAS) project. From that date, labels in ...

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 ...

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 ...

https://youtu.be/vJncIk5yZuc 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 ...

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, ...

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. ...

https://youtu.be/7jooZm0231o 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 Hirschhorn, ...

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 ...

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. ...

https://youtu.be/4G-Tqfa0h44 In response to community feedback and perhaps negative commentary in the media, the ATO has announced it is pausing its “awareness campaign around tax debts on ...

https://youtu.be/N6AqclwWpqA?si=3Nmy_1ahx0pB38aH International businesses that have sales connected to Australia over a certain threshold may need to register and pay GST in Australia. This applies ...

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 ...

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 ...

https://youtu.be/RKiWwEML-vQ?si=dKeX8bN5Rc_VDxbB Click here for more information.     Speak to one of our accountants if you have any questions about the changes in tax for ...

As your business becomes more complex, so does the requirements of your accounting solution. Small accounting software like Xero or MYOB AccountRight provides basic accounting functionality which is ...

The ATO has reminded relevant taxpayers to lodge their Taxable Payments Annual Report (TPAR) by the annual deadline or as soon as possible. It notes that the deadline for each year is firm and those ...

https://youtu.be/D5Qxx_sxzxg?si=082-tZwV0repUkUg Small businesses can access a 20% bonus deduction for eligible expenditure incurred on business expenses and depreciating assets for the purposes of ...

The cents per kilometre method is a simple way to work out how much you can deduct for car-related work or business expenses. Only individuals, including sole traders, or partnerships (where at least ...