CONTRIBUTIONS CAPS: The CGT cap amount for non-concessional contributions is $1.65m for 2022-23 (up from $1.615m). The concessional contributions cap is unchanged at $27,500 for 2022-23. Th...Read MoreRead More
The Tasmanian Government announced land tax threshold changes as tax relief for property owners.
The tax-free threshold for land tax will increase to $100,000 (from $50,000) while the u...Read MoreRead More
Thailand and Vietnam signed the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (the "MLI"), joining 97 other jurisdictions.
...Read MoreRead More
Foreign persons need to obtain approval from them before purchasing Australian residential real estate. They can do this by using the FIRB application form,
After approval and a property...Read MoreRead More
From 1 July 2022, employees who earn less than $450 per month will be paid super guarantee by their employer if they satisfy other eligibility requirements. A change advice to update pay...Read MoreRead More
The ATO’s International Risk for Private Groups Program has launched a campaign focusing on non-resident withholding tax relating to royalty expenses paid overseas for the 2019 and 2020 ...Read MoreRead More
The ATO have released information on its Tax Avoidance Taskforce – Trusts, which targets higher risk trust arrangements in privately owned and wealthy groups.
The ATO Trusts taskforce ...Read MoreRead More
The ATO have raised concerns about a number of arrangements involving unpaid present entitlements and unit trusts that may have implications under Division 7A.
The ATO have identified ca...Read MoreRead More
For unpaid present entitlements (UPEs) on or after 1 July 2022, the Commissioner's view in Draft Taxation Determination TD 2022/D1 is that even if not converted to an ordinary loan, a UP...Read MoreRead More
The ATO has released a package of draft advice and guidance products, setting out its evolving view on the tax treatment of:
trust entitlements arising out of reimbursement agreements u...Read MoreRead More
