ATO Updates

The ATO has flagged four priority areas this tax season where people are making mistakes. With tax season almost upon us the Australian Taxation Office (ATO) has revealed its four…

Recently the ATO has sent reminders to business owners who run a payroll system through Single Touch Payroll (STP). Since 1 January 2022 many businesses with a payroll system would…

A series of reforms and changes will commence on 1 July 2022. For Business Superannuation guarantee increase to 10.5% The Superannuation Guarantee (SG) rate will rise from 10% to 10.5%…

There are lots of reasons to keep fit but very few of them have to do with how we earn our income. As a result, a tax deduction for a…

Throughout March, the ATO sent letters to directors who are potentially in breach of their obligations to ensure that the company they represent has met its PAYG withholding, superannuation guarantee…

Late last month, the Australian Taxation Office (ATO) released a package of new guidance material that directly targets how trusts distribute income. Many family groups will pay higher taxes (now…

The Australian Taxation Office’s finalised position on the allocation of profits from professional firms starts on 1 July 2022. The ATO’s guidance uses a series of factors to determine the…

The ATO has recently issued an alert on gifts or loans from overseas. The ATO is particularly concerned about schemes and arrangements designed specifically to circumvent Australian tax laws. In…

The Australian Taxation Office recently updated its guidance on tax and cryptocurrency. In early November, the Commonwealth Bank announced that it is now Australia’s first bank to offer customers the…

Australia’s Director Identification Number (DIN) regime came into effect on 1 November 2021 and will require you to register for an identification number. The application for a DIN is Time…