Rental property return errors
September 7, 2023
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...
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Gavin Ma & Co’s reminder for small businesses for 30 June
June 29, 2023
We would like to reminde small businesses of three things to remember as 30 June 2023 approaches:
Small business boosts now available – a "bonus" 20% tax deduction for eligible expens...
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ASIC Fees Increase for 2023/2024 Financial Year
June 28, 2023
The increased fees will apply from 1 July 2023 to 30 June 2024.
Company Registration
– Registering a company name will increase to $576
Company Name Reservation
...
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No stamp duty for certain first home buyers in South Australia
June 27, 2023
The 2023-24 SA Budget was delivered on 15 June 2023 and, in terms of tax-related measures, focusses on first home buyers – with the keynote item being the targeted abolition of stamp du...
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New online services for foreign investors starting 26 June
June 27, 2023
The ATO has advised that foreign investors and their representatives will soon use a new online service to manage a range of registration obligations and other transactions relating to Au...
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Div 7A benchmark interest rate for 2023-24
June 27, 2023
The benchmark interest rate for Div 7A purposes is expected to be 8.27% for the 2023-24 income year (up from 4.77% for 2022-23). This is the "Indicator Lending Rates - Bank variable housing...
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When do employers need to get it right this tax time
June 27, 2023
Single Touch Payroll (STP) finalisation: you need to finalise your employees' STP data by 14 July, as they use this information to complete their tax return. If you have any closely held...
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Sharing Economy Reporting Regime starts 1 July
June 27, 2023
The ATO reminds agents with clients who earn income by providing taxi travel (including ride-sourcing) or short-term accommodation, to make sure they are aware of their new tax obligations....
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Victorian Budget 2023-24 tax changes
May 25, 2023
The Victorian Budget was handed down on 22 May. The main tax change evolves around ‘The COVID Debt Repayment Plan’, which includes:
From 1 July 2023, large businesses with national p...
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LCT threshold and fuel-efficient car limits for 2023-24; ATO guidance
May 25, 2023
The ATO has issued a media release setting out the luxury car tax ("LCT") thresholds for the 2023-24 income year. There are two thresholds, ie for:
fuel efficient vehicles – $89,332 ...
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