News

FBT Reminder – Odometer Reading

  Anybody who has a FBT obligation should take an odometer reading of motor vehicles.

ATO on ‘aggressive’ debt recovery hunt

The ATO is showing no signs of easing up on its crackdown on companies owing money and pushing them into insolvency if required, with one mid-tier firm citing a recent spike in insolvencies. 

Why Your Small Business May Experience a Tax Refund Delay—and How to Avoid It Next Year

The tax deadline is here. In case you don’t receive your return in the next few weeks, here are 5 reasons why. It’s a fact: People despise waiting. In 2012, Timex asked people how long they were willing to wait before their patience timers ran out. The shortest wait was for coffee at seven minutes. […]

More ATO downtime looms ahead of tax time

One national accounting network has accepted the need for additional downtime in the wake of the ATO's massive digital crash, but is demanding that the ATO ensures a "robust IT platform" for accountants as we move in to tax time.

ATO finalises guidance on transfer balance cap

The ATO has released a final version of its law companion guideline on the transfer balance cap, which provides positive clarifications for the SMSF sector.

Tax debt release applications refused

The Administrative Appeals Tribunal (AAT) has recently refused the applications of two individuals who sought to be released from their tax debts under the tax law.

Troublesome tax system overhaul picks up speed

The Inspector-General of Taxation has revealed the scope of his review into the way taxpayers pay tax on their business or investment income, following a spate of complaints about the inefficiencies with the current system.

Fit for purpose? The super story so far…

We’ve come a long way since the mandatory superannuation guarantee was introduced in the early 1990s. 

Government to ‘put to bed’ uncertainties with TRIS

As part of its raft of slated changes, the government has foreshadowed a legislative change that will confirm .... 

SMSFs urged to review segregation clauses in trust deed

With the rules around segregation changing, SMSF trustees wanting to run separate investment portfolios for different members may need to check the current terms in their deed allow for this, says an SMSF admin firm.

Site by AcctWeb