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On 29 April, 2021, the Tax Practitioners Board (TPB) issued Draft TPB Practice Note TPB(PN) D45/2021, which requires all registered tax practitioners to take appropriate proof of identity (POI) steps prior to providing tax agent, BAS and tax (financial) advice services (including services...
The ATO recently released Draft Practical Compliance Guideline PCG 2021/D2 (Draft PCG) which explains the compliance approach the ATO intends to apply when considering the allocation of profits by professional firms, and the inclusion of income in the assessable income of individual professional...
A Decision Impact Statement (DIS) was recently issued by the ATO regarding the Federal Court of Australia’s decision in Commissioner of Taxation v Bogiatto. In that case, the Court held that an accountant and three companies he controlled were promoters of various tax exploitation schemes...
As part of its review of the CGT rollover rules, the Board of Taxation (BoT) recently issued a consultation paper on replacing the current CGT restructure rollovers with a comprehensive general restructure rollover.The BoT is seeking submissions that may inform the Board’s advice to Government on...
In November 2020, the Minister for Housing and Assistant Treasurer called for submissions from individuals, businesses and community groups on their views regarding priorities for the 2021-22 Budget.In response, BDO National Tax has prepared a BDO submission urging the Government to reinvigorate...
Treasury recently issued a discussion paper in accordance with the Government’s 2020-21 Budget announcement that it would consult on allowing individuals to deduct education and training expenses they incur, where the expense is not related to their current employment.The discussion paper is...
On 18 March 2020 BDO lodged a submission on Tax Practitioners Board (TPB) discussion paper TPB(DP) D1/2020 - Continuing professional education requirements for tax practitioners under the Tax Agent Services Act 2009.
We refer to the ATO’s invitation to consult on draft taxation ruling TR 2019/D5: Fringe benefits tax: car parking benefits, which was released on 13 September 2019 and the accompanying draft update to chapter 16 of the ATO’s fringe benefits tax guide for employers.
We refer to the invitation by the Assistant Minister for Treasury and Finance in a Media Release on 19 December 2018, to submit ideas and priorities for the 2019-20 Federal Budget.