The ATO’s granular data capability has been expanded to include additional schedules for 2019–20 individual tax returns. Your experience of these changes will depend on your software.
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The government will suspend the indexation of tax instalment amounts for the 2020–21 financial year in response to COVID-19.
This change will affect instalments payable to the ATO for t...Read MoreRead More
The government will extend the $150,000 instant asset write-off for six months to 31 December 2020.
Australian businesses with annual turnover of less than $500 million will be able to ta...Read MoreRead More
The government will introduce a $25,000 grant for eligible owner-occupiers to build a new home or substantially renovate an existing home.
The HomeBuilder grant will be available to indiv...Read MoreRead More
The ATO has released Draft Goods and Services Tax Determination GSTD 2020/D1, setting out the Commissioner's proposed view on the extent to which the supply of a transaction account is GST...Read MoreRead More
From 20 March 2020, the new JobSeeker payment replaced certain Centrelink payments you may receive from Services Australia. As a result of these changes, your Centrelink payment summaries fo...Read MoreRead More
Following the expansion of the instant asset write off, the ATO has clarified that the car limit of $57,581 (for the 2019–20 financial year) applies to passenger vehicles (except motorcycl...Read MoreRead More
The ATO has reminded employers to finalise payroll information through their Single Touch Payroll (STP) provider after the last pay run for the financial year. Large employers with 20 or mor...Read MoreRead More
In an email to tax professionals on 25 May, ATO Deputy Commissioner Hoa Wood recognised the efforts of tax agents to complete lodgments as quickly as possible and that under the current circ...Read MoreRead More
The ATO has released frequently asked questions (FAQs) and other information to help tax practitioners and their clients understand their rental property obligations and what information cli...Read MoreRead More
