The ATO has released its final guidance PCG 2023/1 in relation to a revised fixed-rate approach to claiming deductions for additional running expenses incurred while working from home with effect from 1 July 2022

The government with the recent Treasury Laws Amendment (Electric Car Discount) Bill 2022 introduced FBT exemptions for cars that are classified as zero or low emission vehicles and are provided to a current employee as a car fringe benefit.

Employee / Contractor Distinction The classification of a worker as an employee or contractor can impact on a range of areas such as income tax, PAYGW, SG, ABN, state-based obligations. Recent High Court decisions have impacted on how this area should be approached.

The Sole Purpose Test The sole purpose test (SISA 1993 section 62) is one of the foundations of our superannuation system and helps us understand what superannuation is actually for and when members may be able to access their superannuation funds.

Section 100A The ATO has now issued a final ruling and practical compliance guideline (PCG) on the reimbursement agreement rules in section 100A ITAA 1936, which deal with trust distribution arrangements.

This is a safe, ballot box friendly Budget as expected with a focus on jobs, cost of living, home ownership, and health. Key initiatives include: • A 6 month, 50% reduction in fuel excise with effect from midnight Budget night • A $420 cost of living tax offset for low and middle income earners from 1 July 2022 • A one-off $250 economic support payment to some social security payment recipients

This is a safe, ballot box friendly Budget as expected with a focus on jobs, cost of living, home ownership, and health. Key initiatives include: • A 6 month, 50% reduction in fuel excise with effect from midnight Budget night • A $420 cost of living tax offset for low and middle income earners from 1 July 2022 • A one-off $250 economic support payment to some social security payment recipients

According to the ATO, the data will uncover individuals who have failed to report a disposal of cryptocurrency and the appropriate capital gain or loss in their income tax return.  […]

The Treasurer delivered the Federal Budget 2021-22 on Tuesday 11 may 2021.  The government has delivered an expansionary budget for 2021-22 which continues to facilitate the economic stimulus to secure […]

Key ideas  Underlying policy  The policy underlying the GST cross-border rules is simple — i.e., based on the destination principle, GST is levied where goods and services are consumed — […]

Before the COVID-19 pandemic significantly changed international travel, Australians moved overseas every year for a wide variety of reasons, such as career, business, study, family and travel. Pre-pandemic, government estimates […]