The income thresholds for Medicare levy surcharge increases from 1 July 2023
ThresholdBase tierTier 1Tier 2Tier 3Single threshold$93,000 or less$93,001 – $108,000$108,001 – $144,000$...Read MoreRead More
The State Revenue Office of Victoria has issued a ruling PTA-036v5 to replace PTA-036v4 , with effect from 1 April 2023. Under PTA-036v5, when an employer makes a voluntary disclosure...Read MoreRead More
The ATO has released a "guidance" which sets out what it sees as the key GST considerations for buy-now, pay-later providers. It focusses on assisting providers to determine their entitlem...Read MoreRead More
The ATO reminds agents and taxpayers if they disagree with a decision the ATO made about their tax affairs, they may be able to use one of their free options for resolving disputes.
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The ATO released the weekly amounts it considers reasonable for food and drink expenses incurred by employees receiving a living-away-from-home allowance fringe benefit for the 2023-24 FB...Read MoreRead More
The ATO published the cents per kilometre rates for calculating the taxable value of a fringe benefit arising in the 2023-24 FBT year from the private use of a motor vehicle (other than a...Read MoreRead More
NSW Revenue has issued a release stating the NSW surcharge provisions are inconsistent with international tax treaties entered into by the Federal Government with New Zealand, Finland, Ge...Read MoreRead More
The ATO released a fact sheet outlining the tax treatment of NSW Government payments made to eligible taxi licence holders under its Point to Point Financial Assistance Scheme. The ATO co...Read MoreRead More
Taxpayers who operate some or all of their business from home may be able to claim the business-use portion of expenses they incur. These include:
occupancy expenses (such as m...Read MoreRead More
As accountants, we can play a crucial role in helping clients conduct due diligence when purchasing a business. We can assist by thoroughly reviewing financial records, including income and...Read MoreRead More
