Late last year, the ATO released a draft taxation determination (TD 2023/D4) on the deductibility of financial advice fees paid by individuals who are not carrying on a business. This […]
Following on from two prominent High Court decisions in Construction, Forestry, Maritime, Mining and Energy Union v Personnel Contracting Pty Ltd [2022] HCA 1 and ZG Operations Australia Pty Ltd […]
As previously flagged by the government and supported by many consumer advocates, the government is taking the first steps to introduce regulations for crypto exchanges and digital asset platforms in […]
ASIC has recently released a report which examined the progress by some super trustees to improve their arrangements for life insurance in super. The review was in response to issues […]
The ATO has reminded eligible small business taxpayers to take advantage of the lodgment penalty amnesty program announced in the recent 2023-24 Federal Budget. It applies to tax obligations covering […]
You will need to lodge a TPAR if your business made payments in the last financial year (ie the one ending 30 June 2023) to contractors providing the following services: […]
ASIC has released details of its enforcement priorities for 2023 which signals where it will be directing its resources and expertise for the year. This is in addition to its […]
What is a director penalty? A company director becomes personally liable for the company’s unpaid amounts of: pay as you go withholding (PAYGW); goods and services tax (GST); and super […]
Despite the calls to scrap the already legislated stage 3 tax cuts, the government did not announce any changes in the recent Budget, which means the tax cuts are still […]
Superannuation, while being one of the integral components of Australia’s retirement system, along with the aged pension and savings, has never had a clear legislated objective to guide policy makers. […]