Anti-avoidance Rules: Family Trust Circular Distributions
The Government will extend specific anti-avoidance rules that apply to other closely held trusts that [...]
$20,000 Instant Asset Write-off For SBEs Extended By 12 Months
The Government will extend the current instant asset write-off ($20,000 threshold) for small business entities [...]
Medicare Levy, 2017–2018 Tax Rates Unchanged
The Government had proposed to increase the Medicare levy from 2% to 2.5% from 1 [...]
Personal Tax Rates: Staged Seven-year Reform Plan Starting From 2018–2019
In the 2018–2019 Budget, the Government announced staged tax relief for low and middle income [...]
CGT Main Residence Exemption To Disappear For Non-residents
A person’s Australian tax residency status may be about to assume a whole new meaning. [...]
Data Matching Finds Taxpayers With Unnamed Swiss Bank Accounts
More than 100 Australians have been identified as “high risk” and will be subject to [...]
ATO Closely Examines Work-related Car Expenses
The ATO is concerned about taxpayers making mistakes or deliberately lodging false claims for work-related [...]
Single Touch Payroll Reporting: ATO Urges Employers To Get Ready
The ATO is urging employers with 20 or more employees to start preparing now for [...]
Super Guarantee: ATO Compliance Approach To Non-payment
The ATO has released a fact sheet explaining its compliance approach to employers who fail [...]
Superannuation Rates And Thresholds For 2018–2019
We summarise some of the key superannuation rates and thresholds for the upcoming financial year: [...]