The Government will provide $1.9 million over 2 years from 2023-24 to "establish a public registry of beneficial ownership of companies and other legal vehicles, including trusts"...Read MoreRead More
The ATO has issued a media release setting out its three focus areas for what it terms "this Tax Time", ie the lodgement of 2022-23 returns.
The first area is rental property d...Read MoreRead More
The Prime Minister has announced the following measures designed to increase the supply of housing:
the depreciation rate for eligible new build-to-rent projects where construction c...Read MoreRead More
The ATO has issued draft legislative determination LI 2023/D12. It sets the cents per km method for calculating the work related car income tax deduction at 85 cents per km starting 1 July...Read MoreRead More
As year-end resolutions are being prepared, ATO reminds it is important to consider client’s trust deed and who is and isn’t a beneficiary of the trust. Where an FTE or IEE has been mad...Read MoreRead More
The Commissioner has gazetted the Notice of a ride sourcing data-matching program.It will enable the ATO to acquire ride sourcing data to identify individuals that may be engaged in provid...Read MoreRead More
The ATO has issued a draft legislative instrument that seeks to codify its long-standing practice of remitting interest or penalties to certain classes of entities, including where the char...Read MoreRead More
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
