
13/11/2024
The ATO has introduced a Supplementary annual GST return as part of its engagement with the Top 100 and Top 1,000 taxpayers. The returns will be used to assess the confidence level of a taxpayer’s compliance with GST law, and their investments placed into GST governance. The Supplementary annual GST return will first apply […]
25/10/2024
The ATO has released the first Research & Development Tax Incentive (R&DTI) Transparency Report for 2021–22, detailing which companies claimed the R&DTI. The ATO has published the first R&DTI Transparency Report covering the 2021–22 income year. The R&DTI program aims to strengthen innovation by providing tax offsets for eligible R&D activities. To promote greater transparency […]
11/10/2024
The Australian Taxation Office (ATO) has published Taxation Determination TD 2024/7, confirming the Commissioner’s view on the circumstances under which individuals who are not carrying on an investment business can claim a deduction for fees paid for financial advice. On 25 September, the ATO released Taxation Determination TD 2024/7 in relation to the deductibility of […]
26/09/2024
The ATO has released a draft Practical Compliance Guideline, PCG 2024/D2 (PCG) which outlines how general anti-avoidance rules apply to personal services income (PSI) earned through a personal services entity (PSE) operating as a personal services business (PSB). The PSI rules were enacted to ensure that income derived by a PSE would be taxed to […]
23/09/2024
Explore the latest in the world of taxation in our Tax Chat webinar series. Join us for three engaging sessions on the most recent tax rulings, cases and key developments shaping the tax landscape. During these sessions, our newest Tax Partners, Kirsty McDonnell and Vanessa Priest, will be discussing all things tax- including updates to […]
02/09/2024
The Administrative Appeals Tribunal (AAT) ruled that jockeys racing for various NSW horse racing clubs are employees under the Superannuation Guarantee (Administration) Act 1992 (SGAA), requiring each club to make super contributions on riding fees paid to the jockeys. This decision is reflected in 5 separate applications by 5 horse racing clubs (Armidale Jockey Club, […]
30/08/2024
The ATO has sought special leave to appeal to the High Court, following the decision in Full Federal Court (by a 2 – 1 majority) in PepsiCo, Inc v Commissioner of Taxation [2024] FCAFC 86, which overturned the single decision that ruled in favour of the Commissioner’s position. The High Court decision when released, is significant […]
28/08/2024
We are seeing an ever-increasing number of scams. According to the Australian National Anti-Scam Centre over 21,000 scams were reported in just the month of July 2024, totalling over $25M in losses. Around 80% of reported scams are via e-mail. We are aware of scammers targeting myGov accounts for ATO scams. The ATO have provided […]
20/08/2024
All foreign residents exiting Australia will face increased Capital Gain Tax (CGT) and administrative costs, particularly in the Australian renewable energy sector. Australian Treasury released a consultation paper detailing proposed changes to the current foreign resident CGT regime which were raised in the last Federal Budget. Central to the proposed changes is: The changes will […]
14/08/2024
The ATO has published its preliminary views on certain technical and practical aspects on section 99B, providing taxpayers with clarity on its application. On 31 July, the ATO released draft guidance in relation to Section 99B of the Income Tax Assessment Act 1936, including: Comments on both releases are due on 28 August 2024. What […]