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On 23 February, 2022, the ATO issued Draft TR 2022/D1 and Draft PCG 2022/D1 which sets out the Commissioner’s view on trust reimbursement agreements under s100A in Division 6 of the Income Tax Assessment Act 1936 including the ATO’s interpretation of the exclusion for ‘ordinary family or...
‘Carry forward’ rules allow eligible taxpayers to claim tax deductions for any unused portion of super concessional contributions caps from prior years. This brings tax deductions into the current financial year, which is more than the normal annual concessional contribution cap.
The past few years has seen the rapid development in digital payments and banking, which can partially be attributed to the onset of the pandemic. However, for areas like open banking, the implementation and adoption has been long underway. Full data transfer for consumers will be available as of...
In times of uncertainty, it’s natural to be concerned about your investments, but maintaining a long-term view is still the best course of action and no change to how portfolios are positioned is currently required, in our view.
Join Aletta Boshoff and Kevin Frohbus as they discuss general purpose financial statements.
AusIndustry has released its much anticipated updated guidance on software activities and the R&D Tax Incentive.
Gym owners need to understand the key employee versus contractor considerations to ensure they meet their tax obligations and avoid any expensive consequences.
NSW Minister for Customer Service and Digital Government introduced the State Revenue and Fines Legislation Amendment (Miscellaneous) Bill 2022 (‘Bill’) (NSW). The Bill outlines several transactions that will now be subject to duty, expands anti-avoidance provisions, and increases penalties for...
It is vital that building and construction businesses are adequately prepared to handle the additional burden of the Project Trust framework changes. We explore the implications and new regulations in this article.