Tax Determination: cost base exclusions for deductible amounts
TD 2022/14 confirms the ATO’s view that the law does not permit ‘double counting’ of certain amounts by way of inclu...Read MoreRead More
The Federal government has launched a new awareness campaign to help company directors get their director identification number (director ID) as the 30 November deadline quickly approache...Read MoreRead More
The ATO is currently writing to 8,500 businesses with active ABN whose tax debt meets the criteria for disclosure. This includes companies, partnerships, trusts and sole traders. Agents may...Read MoreRead More
The ATO released its updated online guide Market valuation for tax purposes. The purpose of the guide is to assist taxpayers in understanding the Commissioner's general expectations on mar...Read MoreRead More
The ATO has released its updated guide Crypto asset investments and tax. It provides guidance and examples on managing tax obligations and responsibilities when buying, selling or investin...Read MoreRead More
The Treasury Laws Amendment (2022 Measures No 2) Bill 2022 was introduced in the House of Representatives. The Bill proposes to implement the following previously announced measures:
S...Read MoreRead More
The ATO reminds employers to ensure their payroll systems correctly calculate new super guarantee (SG) entitlements from 1 July.
As of 1 July 2022, the $450-per-month SG eligibility thre...Read MoreRead More
Queensland has introduced land tax amendments that will consider the value of all land owned in Australia when determining land tax liability in Queensland. From 30 June 2023, landholder...Read MoreRead More
The ATO have published its 2023 benchmark interest rate at 4.77% and have updated their Division 7A rate calculator and decision tool for 2022–23. The tool can help you determine the ef...Read MoreRead More
The thresholds for small charity and medium charity thresholds increase from 1 July 2022. The annual revenue threshold for small charities will increase from $250,000 to $500,000 annual r...Read MoreRead More
