Blog

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

Div 7A and PCG 2017/13: UPEs – sub-trust arrangements maturing in 2021–2022 and beyond (Options 1 and 2) 

June 9, 2022

The ATO has extended the operation of PCG 2017/13, its current guidance on trust unpaid present entitlements (UPEs) and sub-trust arrangements with interest-only payments, so that it can a...Read More Read More

ATO update on section 100A

May 25, 2022

The ATO has issued an update on draft guidance on trust reimbursement agreements and unpaid present entitlements. ATO Deputy Commissioner Louise Clarke makes two key points in the rele...Read More Read More

GST fraud – keep an eye out for the unusual 

May 25, 2022

The ATO has stopped more than $770 million in fraudulent GST claims and has commenced recouping monies paid. Tax agents should be on the lookout for unusual transactions or requests for...Read More Read More

Tax return time: ATO priority areas 

May 25, 2022

The ATO’s 2021-22 tax time focus areas for individuals are:   record-keeping – ensuring that proper records are available and data-matching to check correct amounts a...Read More Read More

ATO moving forward on debt disclosures and director penalty notices

April 7, 2022

The ATO is currently in the process of writing to all taxpayers that may be eligible to have their tax debts disclosed to credit reporting bureaus. The letter will be sent to the postal ad...Read More Read More