The Ministry of the new Federal Labor Government has been sworn in. The key appointments from the perspective of the accounting and legal professions are as follows.
Treasurer: Jim Chal...Read MoreRead More
The ATO has released the new maximum value for calculating depreciation on the business use of a car first used (or leased) in the 2022–23 income year. It has increased from $60...Read MoreRead More
Australian Business Registry Services (ABRS) is encouraging agents and intermediaries to support their director clients to apply for their director identification number (director...Read MoreRead More
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The ATO has issued an update on draft guidance on trust reimbursement agreements and unpaid present entitlements.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
