NEWS

5 June, 2024

Federal Budget 2024: Super Related Measures

On Tuesday 14 May 2024, Treasurer Jim Chalmers handed down the 2024-25 Federal Budget, his 3rd Budget. The major superannuation and retirement-related measures announced in the Budget include the following. […]
3 June, 2024

Federal Budget 2024: Business Measures

On Tuesday 14 May 2024, Treasurer Jim Chalmers handed down the 2024-25 Federal Budget, his 3rd Budget. The major SME business tax-related measures announced in the Budget include the following. […]
29 May, 2024

Federal Budget 2024: Personal Measures

On Tuesday 14 May 2024, Treasurer Jim Chalmers handed down the 2024-25 Federal Budget, his 3rd Budget. The major personal tax-related measures announced in the Budget include the following. Revised […]
27 May, 2024

Navigating Complexities Of Crypto Investments: SMSFs

The digital currency landscape continues to be treacherous terrain for Self-Managed Super Fund (SMSF) trustees, with a growing number of reports indicating significant losses due to a variety of factors, […]
22 May, 2024

Fasttrack For Finalisation Of Certain Deceased Estates

The ATO has recently released a guideline that will allow certain legal personal representatives (LPRs), including executors or administrators, of less complex estates to finalise those estates before the expiration […]
13 May, 2024

Trust Reporting Changes From 1 July 2024

Changes to simplify reporting for trustees and beneficiaries are commencing from 1 July 2024 as a part of the Modernisation of Trust Administration Systems (MTAS) project. From that date, labels […]
8 May, 2024

Old ATO Debts: IGTO Weighs In

In response to the ATO’s recent actions on re-activating or off-setting old debts, the Commonwealth Ombudsman/ACT Ombudsman, and the Inspector-General of Taxation and Taxation Ombudsman (IGTO) have jointly issued new […]
6 May, 2024

Changes Proposed For Annual Super Performance Test

The annual super performance test was introduced in 2021 by the previous government as a way to hold registrable superannuation entity (RSE) licensees to account for any underperformance through greater […]
3 May, 2024

ATO Targeting False Invoicing

The ATO-led Serious Financial Crime Taskforce (SFCT) is warning businesses against using illegal financial arrangements such as false invoicing to avoid tax obligations and/or inflate their deductions. As an overview, […]
30 April, 2024

ATO Cracking Down On Unlawful Tax Schemes

The ATO has issued a stern warning to taxpayers against entering illegal tax schemes. It emphasises that while tax planning within the law is acceptable, schemes that attempt to exploit […]