78 cents per kilometre rate for 2022–2023

78 cents per kilometre rate for 2022–2023

June 30, 2022

The ATO has set the rate of work-related car expense deductions at 78 cents per kilometre for 2022–2023 (up from 72 c/km). Income Tax Assessment – Cents per Kilometre Deduction Rate fo...Read More Read More

ATO warning on asset wash sales

June 30, 2022

The ATO warned taxpayers not to engage in “asset wash sales” to artificially increase their losses and reduce gains for tax purposes. The ATO said its sophisticated data analytics can...Read More Read More

Legal professional privilege protocol 

June 30, 2022

The ATO has published its recommended approach regarding Legal Professional Privilege (LPP) to respond to formal notices requiring production of documents. Specifically, it covers the ATO...Read More Read More

NSW first home buyer property tax option 

June 30, 2022

NSW will introduce a First Home Buyer Property Tax Option whereby first home buyers purchasing a property valued at up to $1.5 million will be provided with an option to pay an annual prope...Read More Read More

Government fee changes effective 1 July 2022 for products and services involving properties

June 29, 2022

Effective Friday 1 July 2022, Government registration fees associated with properties will change. These property costs may be collected by banks on behalf of the Government or legal pr...Read More Read More

ASIC Fees Increase for 2022/23 Financial Year

June 20, 2022

The increased fees will apply from 1 July 2022 to 30 June 2023. Company Registration – Registering a company name will increase to $538 Company Name Reservation –...Read More Read More

Gavin Ma Advanced to FCPA Status

June 10, 2022

On 31 May 2022, Director Gavin Ma attended the CPA Australia Certificate Presentation at Grand Hyatt Melbourne to be formally recognised as a Fellow of CPA Australia. Gavin Ma &a...Read More Read More

New Federal Ministry sworn in 

June 9, 2022

The Ministry of the new Federal Labor Government has been sworn in. The key appointments from the perspective of the accounting and legal professions are as follows. Treasurer: Jim Chal...Read More Read More

New car depreciation cost limit 

June 9, 2022

The ATO has released the new maximum value for calculating depreciation on the business use of a car first used (or leased) in the 2022–23 income year. It has increased from $60...Read More Read More

Director ID: Tips to help director clients get their ID online 

June 9, 2022

Australian Business Registry Services (ABRS) is encouraging agents and intermediaries to support their director clients to apply for their director identification number (director...Read More Read More