Practice Update January/February 2025
CGT withholding measures now law The Government recently passed legislation making changes to the foreign resident capital gains withholding laws (among other changes). Editor: Foreign resident capital gains withholding is relevant for all vendors selling [...]
Practice Update December 2024
Can staff celebrations attract FBT? With the holiday season coming up, employers may be planning to celebrate with their employees. Before they hire a restaurant or book an event, employers should make sure to work [...]
Practice Update October 2024
Avoid a tax time shock Individual taxpayers can take the following steps right now to ensure the correct amount of tax is being put aside throughout the year: let their employer know if they have [...]
Practice Update August 2024
ATO's tips for correctly claiming deductions for rental properties Taxpayers who have work done on their rental property should consider the following factors in determining claims for expenses. Repairs and general maintenance are expenses for [...]
Practice Update December 2023
ATO's lodgment penalty amnesty is about to end The ATO is remitting failure to lodge penalties for eligible small businesses. Businesses which have not yet taken advantage of the ATO's lodgment penalty amnesty only have [...]
Christmas Parties & Gifts 2023
Year-end (and other) staff parties Editor: With the well earned December/January holiday season on the way, many employers will be planning to reward staff with a celebratory party or event. However, there are important issues [...]
Agent nomination process
A new process has been introduced by the Australian Taxation Office (ATO) for nominating a registered agent. This new process is called ‘Client-to-agent linking’ and, effective from 13 November 2023, it applies to all taxpayers [...]
Small Business – Lodgment Penalty Amnesty Program
As of May 9, 2023, as part of the 2023-24 Budget, the government has introduced a lodgment penalty amnesty program aimed at encouraging small businesses to re-engage with the tax system and bring their obligations [...]