Blog

Sharing Economy Reporting Regime starts 1 July

June 27, 2023

The ATO reminds agents with clients who earn income by providing taxi travel (including ride-sourcing) or short-term accommodation, to make sure they are aware of their new tax obligations....Read More Read More

Victorian Budget 2023-24 tax changes

May 25, 2023

The Victorian Budget was handed down on 22 May. The main tax change evolves around ‘The COVID Debt Repayment Plan’, which includes: From 1 July 2023, large businesses with national p...Read More Read More

LCT threshold and fuel-efficient car limits for 2023-24; ATO guidance

May 25, 2023

The ATO has issued a media release setting out the luxury car tax ("LCT") thresholds for the 2023-24 income year. There are two thresholds, ie for: fuel efficient vehicles – $89,332 ...Read More Read More

HELP repayment thresholds/rates; study/training loan index rate

May 25, 2023

The Government has updated the repayment incomes and repayment rates for the Higher Education Loan Program (HELP) for the 2023-24 income year. The minimum repayment income for the 2023-24...Read More Read More

ATO paid pilot for small retailers 

May 25, 2023

ATO is paying retail small business participants for a 6-month pilot to trial a monthly GST lodgment cycle. They are looking for small retail businesses who currently report and pay GST qua...Read More Read More

Tips on getting STP Phase 2 reporting right  

May 25, 2023

The ATO have seen some mistakes as employers have moved to STP Phase 2 reporting. The most common mistakes include: Pay codes: Make sure you’ve set up your pay codes correctly, and ...Read More Read More

Small business late lodgment penalty amnesty program

May 25, 2023

The small business lodgment penalty amnesty program commences on Thursday, 1 June. It gives agents and their small business clients an opportunity to get their outstanding tax returns and...Read More Read More

ACSC: BianLian Ransomware Group alert

May 19, 2023

The Australian Cyber Security Centre (ACSC), the FBI and US Cybersecurity and Infrastructure Security Agency (CISA) urges organisations to take immediate steps to safeguard computer syste...Read More Read More

Public beneficial ownership register: additional funding (Budget)

May 19, 2023

The Government will provide $1.9 million over 2 years from 2023-24 to "establish a public registry of beneficial ownership of companies and other legal vehicles, including trusts"...Read More Read More

ATO target areas for 2022-23 returns: rental property deductions; work-related expenses; CGT

May 19, 2023

The ATO has issued a media release setting out its three focus areas for what it terms "this Tax Time", ie the lodgement of 2022-23 returns. The first area is rental property d...Read More Read More