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
–...
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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...
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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...
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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...
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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...
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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...
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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The ATO has issued an update on draft guidance on trust reimbursement agreements and unpaid present entitlements.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...
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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...
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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...
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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...
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