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 MoreRead More
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 MoreRead More
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 MoreRead More
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 MoreRead More
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 MoreRead More
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 MoreRead More
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 MoreRead More
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 MoreRead More
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 MoreRead More
Effective Friday 1 July 2022, Government registration fees associated with properties will change.
These property costs may be collected by banks on behalf of the Government or legal pr...Read MoreRead More
