TOPIC
The 2026 global economy: nervously muddling through
The world economy enters 2026 in a nervous state. Volatility and cautious consumers are the norm, even though growth has proven surprisingly resilient.
ATO kicks off ‘soft’ debt collection restart
Apart from Victoria, where businesses are working towards a staged reopening plan, the ATO has begun reaching out to businesses in other parts of...
TPB extends concessions in response to COVID-19
The Tax Practitioners Board (TPB) has stepped up its support of tax practitioners by extending continued professional education (CPE) (private...
ATO reverses changes to SMSF auditor instructions
In June this year, the ATO updated the Independent Auditor’s Report (IAR) instructions so that auditors would not need to modify their opinion in...
ATO monitoring new compliance item in SAN misuse mailout
Last year, the ATO began issuing SMSF auditors with a list of funds that have quoted their SMSF auditor number (SAN) in order to identify...
Extension of insolvency relief for financially distressed businesses
The government has announced that regulations will be made to extend the temporary increase in the threshold at which creditors can issue a...
SMSF firm taken to court over alleged advice failures
In a public announcement, ASIC stated that it has commenced proceedings in the Federal Court of Australia against Dixon Advisory and...
ATO settles JobKeeper ordinary income debate
The Tax Office has now updated its web guidance to confirm that while JobKeeper payments are ordinary income, they are not earned in the ordinary...
Superannuation taxes predicted to be a ‘soft target’ in budget
In a short research paper, Parametric head of research Raewyn Williams and analyst Josh McKenzie stated that investment tax inside super may be a...
ATO releases JobKeeper extension guidance setting out post-September procedures
The Australian Taxation Office (ATO) has now issued preliminary guidance on the extension of the JobKeeper stimulus measure to 28 March 2021,...
Tax Office urged to be sensible around cash-flow boost reviews
The Tax Office had recently written to a number of cash-flow boost recipients who had made an “unusual or unexpected change” to the amount of...
