Legislation to amend temporary full expensing and other budget measures introduced
December 3, 2020
A Bill including amendments to provide greater flexibility for accessing temporary full expensing of depreciating assets has been introduced into parliament.
Schedule 1 of the Treasury L...
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ATO data-matching program — online selling
December 3, 2020
The Commissioner will conduct a data-matching program to acquire data on Australian sales made through online selling platforms in the 2018–19 to 2022–23 financial years.
The data c...
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JobKeeper recipients drop by 2 million
December 3, 2020
The number of JobKeeper recipients has fallen from around 3.6 million to 1.5 million over the month of October, outperforming 2020–21 Budget estimates.
According to the Treasurer, Jos...
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HomeBuilder grant extended
December 3, 2020
The HomeBuilder grant for eligible owner-occupiers building a new home or substantially renovating an existing home will be extended to 31 March 2021.
The government has announced the f...
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ATO restarts small business taxpayer audits
November 5, 2020
The ATO has recommenced its work to address tax compliance risks in the small business segment, continuing ongoing and new taxpayer audits, having been focused on the COVID-19 stimulus mea...
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CRS report data on bank accounts published by ATO
November 5, 2020
The ATO has published 2018 data on Australian financial accounts held by foreign tax residents as at 31 December 2018 collected under the Common Reporting Standard (CRS) and exchanged with...
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Impact of COVID-19 on loss utilisation
October 30, 2020
The ATO has clarified on how the business continuity test applies for companies affected by COVID-19.
To utilise carried-forward losses in a particular year, a company must satisfy the ...
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GST applied to sales of vacant land by sheep grazing business
October 24, 2020
A company operating a sheep grazing business has been found liable for GST on the sales of vacant land, although the sales were unrelated to that activity. The AAT held the sales were taxabl...
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Taxpayer Australian resident despite seven-month employment in Kuwait
October 24, 2020
A taxpayer who returned to Australia after a seven-month contract position in Kuwait has failed to convince the AAT that he was not an Australian resident. He was held to be a resident of Au...
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Exposure draft: requiring DGRs to register as charity
October 24, 2020
The government is seeking comments on draft legislation to require non-government entities seeking endorsement as deductible gift recipients (DGRs) to register as charities.
The draft ...
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