The ATO has extended the operation of PCG 2017/13, its current guidance on trust unpaid present entitlements (UPEs) and sub-trust arrangements with interest-only payments, so that it can a...Read MoreRead More
The ATO has issued an update on draft guidance on trust reimbursement agreements and unpaid present entitlements.
ATO Deputy Commissioner Louise Clarke makes two key points in the rele...Read MoreRead More
The ATO has stopped more than $770 million in fraudulent GST claims and has commenced recouping monies paid. Tax agents should be on the lookout for unusual transactions or requests for...Read MoreRead More
The ATO’s 2021-22 tax time focus areas for individuals are:
record-keeping – ensuring that proper records are available and data-matching to check correct amounts a...Read MoreRead More
The ATO is currently in the process of writing to all taxpayers that may be eligible to have their tax debts disclosed to credit reporting bureaus. The letter will be sent to the postal ad...Read MoreRead More
Read CPA's summary of the tax and superannuation measures in the Federal Budget 2022-23 which provides you with an overview of the Treasurer’s announcements.
These include cost of livin...Read MoreRead More
From 5 April 2022, directors must apply for their director ID before they are appointed. Ensure your clients who are a director or are planning to become one to apply for their director id...Read MoreRead More
CONTRIBUTIONS CAPS: The CGT cap amount for non-concessional contributions is $1.65m for 2022-23 (up from $1.615m). The concessional contributions cap is unchanged at $27,500 for 2022-23. Th...Read MoreRead More
The Tasmanian Government announced land tax threshold changes as tax relief for property owners.
The tax-free threshold for land tax will increase to $100,000 (from $50,000) while the u...Read MoreRead More
Thailand and Vietnam signed the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (the "MLI"), joining 97 other jurisdictions.
...Read MoreRead More
