TOPIC
Payday Super arrives midyear. Are your clients ready?
Payday Super will mean more admin and costs for small businesses, says the IPA's Tony Greco. It's time to prepare.
The good vs bad digitisation effect on businesses and the next generation of accountants
For accountants, not only is this true, but it can also help free up more time for advisory. As was discussed on a AFAANZ panel we hosted last...
Common Reporting Standard – information for tax agents
The CRS is the single global standard for the collection, reporting and exchange of financial account information on foreign tax residents. Under...
CRS and FATCA obligations – self-review guide and toolkit
The guide covers what is required for the automatic exchange of financial information (AEOI) framework for which the ATO is responsible in regard...
Sub-trusts ‘redundant’ under final Div 7A ruling
Tax and commercial incentives no longer existed, said senior advocate at the institute Robyn Jacobson, as previous arrangements involving...
Taking the cryptic out of crypto this tax time
Assistant Commissioner Tim Loh said the tax implications for crypto assets seems complicated which is why the ATO is offering this guidance....
Hybrid Mismatch Alert – ATO finalises its views on whether US GILTI corresponds with Australian CFC rules
The final TD confirms the ATO’s original view contained in the prior draft (TD 2019/D12) released on 21 November 2019 being that the US GILTI...
ATO releases new trustee guide on SMSF windups
As part of its series of lifecycle publications for SMSFs, the ATO has published another guide for SMSFs this week focused on winding up an SMSF....
Why your firm is now a risky business
As the dust settles on the release of final ATO guidance on the allocation of professional practice profits, this article examines what firms...
How to get shares right this tax time
The list of common mistakes and expert tips will help tax professionals reduce the need for amendments later on said the Tax Office. Firstly, the...
ATO casts net wide when it comes to taxable business income
Frequently forgotten revenue streams such as tips and patent royalties need to be included in the assessable income of a business, the ATO warned...
