TLA Bill (No. 2) 2022 introduced
August 11, 2022
The Treasury Laws Amendment (2022 Measures No 2) Bill 2022 was introduced in the House of Representatives. The Bill proposes to implement the following previously announced measures:
S...
Read More Read More
Is your system updated for the latest SG changes?
August 11, 2022
The ATO reminds employers to ensure their payroll systems correctly calculate new super guarantee (SG) entitlements from 1 July.
As of 1 July 2022, the $450-per-month SG eligibility thre...
Read More Read More
Land tax changes in Queensland
August 11, 2022
Queensland has introduced land tax amendments that will consider the value of all land owned in Australia when determining land tax liability in Queensland. From 30 June 2023, landholder...
Read More Read More
Division 7A benchmark interest rate updated for 2023FY
July 21, 2022
The ATO have published its 2023 benchmark interest rate at 4.77% and have updated their Division 7A rate calculator and decision tool for 2022–23. The tool can help you determine the ef...
Read More Read More
Thresholds for charities increase from 1 July 2022
July 7, 2022
The thresholds for small charity and medium charity thresholds increase from 1 July 2022. The annual revenue threshold for small charities will increase from $250,000 to $500,000 annual r...
Read More Read More
Reasonable travel and overtime meal allowance amounts for 2022–2023
July 7, 2022
The ATO released Taxation Determination TD 2022/10, applying from 1 July 2022, setting out the amounts it will treat as reasonable for 2022–2023 in relation to employee claims for:
ov...
Read More Read More
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
