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
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
