The ATO has released a fact sheet for employers on FBT obligations when providing an employee with an electric vehicle and associated items for their private use. The fact sheet highlight...Read MoreRead More
There are several ways to potentially reduce land tax, which is a tax levied by state governments in Australia on the value of land owned.
Take advantage of exemptions and concessions: E...Read MoreRead More
The Tax Practitioner Board (TPB) has released an updated practice note on proof of identity (POI) requirements for client verification, TPB(PN) 5/2022. Key updates to TPB(PN) 5/2022 inclu...Read MoreRead More
The full bench of the Federal Court has dismissed the Commissioner of Taxation’s appeal and decided that section 100A of the Income Tax Assessment Act 1936 (ITAA 1936) has no ap...Read MoreRead More
The ATO has released further guidance and examples on when Division 7A loan repayments are not taken into account when working out:
The minimum yearly repaymentHow much of the loan has...Read MoreRead More
The ATO has issued Taxation Ruling TR 2022/3, Compendium on Personal Services Income (PSI) and related web guidance and how they apply to an individual or entity. The PSI rules are des...Read MoreRead More
Revenue NSW has issued Commissioner’s Practice Note CPN 025. It outlines the circumstances when certain transactions will or will not be dutiable and also aims to assist taxpayers and th...Read MoreRead More
he Business and Community Sport Flood Recovery Grants was launched yesterday.
It provides up to $50,000 grants to small businesses, not-for-profit and community sport and active re...Read MoreRead More