Treasury has released the 2023-24 Mid-Year Economic and Fiscal Outlook.
It flags the following proposed tax-related reforms:
No deduction for ATO interest charges — The ...Read MoreRead More
In the 2023-24 Federal Budget (Paper No 2 at p182), the government announced that:
the location offset would be increased from 16.5% to 30% and
the minimum qualifying Australian pro...Read MoreRead More
The ATO has issued a reminder that not-for-profit entities with an active ABN will need to lodge an annual NFP self-review return from 2023-24. The return can be lodged at any time betwee...Read MoreRead More
The Treasurer has advised that the following three bodies which currently oversee financial reporting and set the reporting standards will be combined into a single entity:
Australian...Read MoreRead More
The ATO has registered a gazette to acquire officeholder information from ASIC, the Office of the Registrar of Indigenous Corporations (ORIC) and the ACNC for 2023-24 to 2024-25.
The o...Read MoreRead More
When it comes to minor tax rates for any financial year, it's important to note that eligible taxable income or unearned income for individuals under the age of 18 is subject to special tax...Read MoreRead More
When embarking on the journey of establishing a new business, expanding an existing one, or making investment decisions, the choice of a suitable legal structure is a pivotal consideration....Read MoreRead More
The ATO has published guidance on changes requiring non-charitable not-for-profits (NFPs) with an active Australian business number to lodge an annual self-review return, to self-assess a...Read MoreRead More
Nine in 10 rental property owners are getting their return wrong, according to the ATO, which is encouraging rental property owners and their tax agents to take care when lodging their re...Read MoreRead More
