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Blog

Mar 13, 2023
Work from home expenses: new rate
With the expiration of the previous fixed rate method and the shortcut method for calculating the deduction for working from home (WFH) expenses, the ATO has released a draft guideline on the new ...
Feb 6, 2023
New year, new ATO scams
Money never sleeps, as the old quote goes, but it could apply equally well to scammers. As most people have let their guard down and are still recovering from their holiday excesses, scammers are ...
Feb 6, 2023
Upcoming FBT-related changes
With 2023 in full swing, the ATO is looking to finalise a number of FBT-related issues currently under consultation. For businesses, the outcome of these consultations and subsequent issue of draft ...
Feb 6, 2023
Beware of super schemes
The ATO is currently running a campaign cracking down on super schemes increasingly used by promoters to inappropriately channel money through SMSFs or provide an unfair tax advantage. Some of the ...
Jan 9, 2023
Looming changes for the BNPL market
The government has given the strongest indication yet that it will be seeking to regulate the Buy Now Pay Later (BNPL) market soon with the release of a consultation paper on the appropriate ...
Jan 9, 2023
Sharing economy reporting regime commences soon
As a part of the government’s strategy to combat the tax compliance risks posed by the sharing economy, it has now legislated requirements for operators of electronic distribution platforms to ...
Jan 9, 2023
Non-deductible threshold removed for self education
The government has reintroduced and passed a raft of measures that faced an uncertain fate when the House of Representatives was dissolved and the Senate prorogued due to the calling of the Federal ...
Dec 6, 2022
ATO’s relationship with small business
Second Commissioner Jeremy Hirschhorn delivered the Commissioner of Taxation's Address at the Institute of Public Accountants National Congress on 18 November 2022. The theme of the Address was how ...
Dec 6, 2022
Proposed new method for calculating WFH expenses
With the expiration of the previous fixed rate method and the shortcut method for calculating the deduction for working from home (WFH) expenses, the ATO has released a draft guideline on the new ...
Dec 6, 2022
Future of superannuation
In a recent address, the Assistant Treasurer and Minister for Financial Services, Stephen Jones, outlined the changes the government will be pursuing in terms of superannuation. From its beginnings ...
Nov 6, 2022
NSW first home buyers: choice of tax
First home buyers in NSW could soon have the choice between paying an annual property tax instead of stamp duty if a Bill currently before NSW Parliament passes. As the name suggests, the First Home ...
Nov 6, 2022
Pension changes to encourage workforce participation
As a result of the government’s recent Jobs Summit and responding to pressure from employer and agricultural lobby groups, proposed changes have been introduced into Parliament that will enable ...
Nov 4, 2022
Labor’s Federal Budget 2022-23
Key measures in the Albanese Government’s first Budget The Federal election on 21 May 2022 ushered in a Labor Government promising a better future. Disdaining the ‘all announcement, no ...
Oct 9, 2022
CGT and foreign residents: reminder
Foreign residents are reminded that they are no longer entitled to any main residence exemption for disposals of property unless one of the life events tests are satisfied. Previously, where a ...
Oct 9, 2022
FBT record-keeping: simplification of requirements
The government has released a raft of draft legislation with the intention of reducing FBT record-keeping compliance costs for employers. The measure was originally announced by the previous ...
Oct 9, 2022
ASIC remediation guidance: know your rights
ASIC has recently published guidance on consumer remediation for AFS licensees including super trustees and credit licensees. This remediation framework is underpinned by the general obligations on ...
Sep 9, 2022
Legislative changes in the pipeline – September 22
The new Labor government has wasted no time in introducing a raft of legislative changes in relation to previously abandoned measures and to implement its various election promises covering ...
Sep 9, 2022
Individual residency: upcoming changes
Changes to clarify the residency tests for individuals are expected to be released in September 2022. This will be in the form of a Draft Ruling by the ATO that will provide preliminary guidance and ...