15 April, 2024

ATO’s Use Of Small Business Benchmarks

Recently, the ATO updated its small business benchmarks to encompass the 2021-22 income year. While the ATO promotes these benchmarks as an aid for small businesses to enable them to […]
10 April, 2024

Super On Paid Parental Leave

The government has announced that from 1 July 2025, it will commence paying super on Government Paid Parental Leave (PPL). This comes on the back of calls by unions and […]
8 April, 2024

Revised Stage 3 Tax Cuts Now Law

Now that the revised stage 3 tax cuts have passed all stages of Parliament and received Royal Assent, the new rates are law and will apply from 1 July 2024. […]
5 April, 2024

FBT: Alternatives To Employee Declarations

Employers that provide certain fringe benefits to their employees can now use appropriate alternative statutory evidentiary documents to satisfy FBT requirements with registration of legislative instruments specifying acceptable record-keeping obligations […]
3 April, 2024

Financial Services Compensation Scheme To Commence

In a significant move towards protecting consumers, the Government announced the imminent commencement of the Compensation Scheme of the Last Resort (CSLR). The CSLR is a comprehensive scheme designed to […]
27 March, 2024

ATO Scrutinising Novated Leases

The ATO has released details of one of the first data matching programs for 2024 on novated leases. According to the ATO, this program has been running since June 2021 […]
25 March, 2024

ATO Concerns Over Div 7A

Division 7A of the ITAA 1936 was originally introduced as a way to uphold the integrity of the tax system by ensuring the fair taxation of transactions between private companies […]
20 March, 2024

Crypto Products And Financial Services Law

In a landmark decision on the application of the financial services law to crypto-backed products, the Federal Court has found that a fintech company had provided unlicenced financial services and […]
15 March, 2024

Refresher On Deductibility Of Self-Education Expenses

The ATO has released a ruling which consolidates and updates its previous rulings (now withdrawn) on its view of the deductibility of self-education expenses under s 8-1 of the ITAA […]
13 March, 2024

SBSCH And SMSF Bank Account Validation

With the year-on-year growth in the number of SMSFs in Australia, the ATO is finally rolling out a extra security feature for SMSFs that use the Small Business Superannuation Clearing […]