If your private company provides loans to shareholders or their associates, Division 7A of the Income Tax Assessment Act 1936 is likely on your radar. A key part of Division 7A compliance i...Read MoreRead More
The Department of Home Affairs, including the Australian Border Force, has issued a notice that it will obtain data from the ATO to identify whether business sponsors are complying with t...Read MoreRead More
July 1, 2025, the Australian Securities and Investments Commission (ASIC) will implement fee increases across a range of commonly lodged documents. These changes impact companies, business ...Read MoreRead More
The 2025 FBT year ended on 31 March 2025. Employers must review their FBT obligations to ensure compliance and minimize liabilities.
Key FBT Updates for 2025
1. FBT Rates Remain ...Read MoreRead More
The government has announced a 2-year ban on foreign investors purchasing established homes, effective 1 April 2025 to 31 March 2027, to ease housing market pressure.
The new ban appli...Read MoreRead More
The ATO has released draft Taxation Determination TD 2024/D2 and draft Practical Compliance Guideline PCG 2024/D1 on section 99B for public consultation.
TD...Read MoreRead More
The Australian Government’s Mid-Year Economic and Fiscal Outlook (MYEFO) 2024-25 released on 18 December 2024 introduces significant tax measures to enhance compliance and modernise syste...Read MoreRead More
Treasury has issued a consultation paper Strengthening the foreign resident capital gains tax regime, proposing three measures to strengthen the foreign resident capital gains tax ("CGT") ...Read MoreRead More
The ATO has registered the Income Tax Assessment (Cents per Kilometre Deduction Rate for Car Expenses) Determination 2024, with effect from 1 July 2024. The Instrument sets the rate at 88 ...Read MoreRead More
The ATO released TD 2024/3, with effect from 1 July 2024, providing the amounts it will treat as reasonable for 2024-25 for employee claims:
overtime meal expenses: $37.65
domes...Read MoreRead More
