New legislation has recently been enacted that changes the taxation treatment of distributions of income from testamentary trusts to minors.
Previously income from property that did not f...Read MoreRead More
Employers who lodged their 2020 FBT returns, treating ride-sourcing vehicle travel by employees as subject to FBT, will need to amend their returns, following law changes to exempt such trav...Read MoreRead More
The Commissioner has set out the amounts considered to be reasonable in relation to claims made by employees for the 2020-21 income year for:
overtime meal expenses — for food and dri...Read MoreRead More
ATO website updates
Enrolments still open for organisations assessing eligibility for the JobKeeper payment
Information for employees about JobKeeper payments
Key d...Read MoreRead More
To help tax practitioners and their clients this tax time, CPA Australia has published its annual tax tips for tax agents, employees, small business, investors and students.
The ATO has a...Read MoreRead More
The government has outlined key measures in effect from Wednesday 1 July 2020 that will help Australians transition through the impacts from COVID-19. Those relating to tax and superannuatio...Read MoreRead More
The ATO has announced that taxpayers affected by COVID-19 will now be able to request an extension of the repayment period if they are unable to make their minimum yearly repayment by the en...Read MoreRead More
The ATO has issued the annual taxation ruling which contains the effective life of depreciating assets under s 40-100 of ITAA 1997. Taxation Ruling TR 2020/3 contains new effective lif...Read MoreRead More
Commissioner’s discretion to extend time for JobKeeper application
Payments to eligible employees on JobKeeper
Compliance approach to related party agreements in the COVID-...Read MoreRead More
The legislative package to modernise Commonwealth registers and to introduce a director identification number (DIN) requirement has received assent and is now law. The Commonwealth Register...Read MoreRead More
