Revised rules require fresh advice but clients often blame their tax professional, says Tim Munro.
Changes to working from home deduction – started 1 Jul 2022
ATO brings in changes for calculating working from home deductions.
Later retirement takes oldies back to living in ’70s
The labour shortage and increased workplace flexibility has seen potential retirees remain in the workforce for longer, says KPMG.
Sharing economy reporting regime commences soon
As a part of the Federal Government’s strategy to combat the tax compliance risks posed by
the sharing economy, it has passed into law new requirements for operators of electronic
distribution platforms to provide information to the Australian Taxation Office on
transactions made through their platforms.
Details of tax calculation for $3m threshold a ‘mixed blessing
The proposed tax on earnings calculation for balances exceeding $3 million will see some members paying tax on unrealised earnings, says the SMSF Association.
Comparison: How Long It Takes To Decompose?
Check out how long everyday items take to decompose.
Using your business money and assets for private purposes
You may need to report money and assets taken from your company or trust as income in your tax return.
Capital gains tax
How to calculate capital gains tax (CGT) on your assets, assets that are affected, and the CGT discount.
Changes to Australian Business Number (ABN) registration compliance
As part of the government’s intention to “strengthen” the ABN system, Treasury has released
draft legislation to imposing new compliance obligations for ABN holders to retain their
ABN.