DGRs eligibility has changed from 14 December
December 16, 2021
DGRs that were endorsed under one of the 11 amended DGR categories prior to 14 December 2021, need to check they meet the changed requirements. From 14 December 2021 all general deductible...
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COVID-19 vaccination incentives and rewards – ATO fact sheet
December 16, 2021
The ATO has released a fact sheet for employers on the tax and superannuation consequences of providing incentives or rewards to employees who get vaccinated against COVID-19.
Specifica...
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Professional firms profit allocation guideline finalised
December 16, 2021
The ATO has finalised Practical Compliance Guideline PCG 2021/4 Allocation of professional firm profits – ATO compliance approach that sets out the ATO’s compliance approach to the al...
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SA Land Tax – date to nominate a designated beneficiary for discretionary trusts closes on 31 December 2021
December 9, 2021
Revenue SA is reminding taxpayers and their advisers that where land was acquired by a discretionary trust on or before 16 October 2019, the discretionary trust has until 31 December 2021 to...
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SGC: remission of additional penalty post-amnesty – PS LA 2021/3
December 2, 2021
Practice Statement PS LA 2021/3 was finalised by the ATO on and with effect from 25 November 2021, sets out the ATO's revised decision-making principles for remitting the additional superan...
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Class and Product Rulings issued – CR 2021/79-82, PR 2021/15
December 2, 2021
Four Class Rulings were issued on Wednesday 24 November 2021:
CR 2021/79 - Woolworths Group Limited - off-market share buy-back.
CR 2021/80 - Two10degrees Pty Ltd - use of Globa...
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Do you have non-resident employers’ withholding obligations in New Zealand?
December 2, 2021
he NZ IRD has published Operational Statement OS 21/04 which clarifies the tax withholding obligation of non-resident employers (including from Australia) in cross-border employment situat...
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Simplified transfer pricing record-keeping options: 2021-22 interest rates – PCG 2017/2 updated
November 19, 2021
On Thursday 11 November, the ATO released an updated version of Practical Compliance Guideline PCG 2017/2, which gives eligible entities various simplified transfer pricing record-keeping o...
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Trading stock: standard value of goods taken for private use: 2021-22 – TD 2021/8
November 19, 2021
Taxation Determination TD 2021/8, issued on Wednesday 10 November, sets out the 2021-22 amounts the ATO will accept as estimates of the value of goods taken from trading stock for private us...
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Stapled super fund regime for new employees from 1 November
November 4, 2021
From 1 November 2021, where an employee has an existing superannuation account, that account will be "stapled" and follow the employee when they change jobs. Employers will need to request s...
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