Blog tagged as ATO Rules

Did you know the ATO has a small business portal with heaps of handy advice on managing your business taxes? We’ve highlighted six of the most popular courses.

The ATO has released a tax ruling intended to provide guidance as to how the Commissioner will apply the residency tests (s 6(1) ITAA 1936) for individuals under a modernised approach.

Operators of sharing economy platforms now required to report transactions to the ATO from 1 July 2023. If you operate in these platforms, such as ride share or short-term accommodation, make sure this information comes to us for your tax return.

Payday super is due to begin in July 2026. Is your payroll process ready? We’ve outlined the key requirements and how payday super could impact your small business.

Tax deduction for ATO interest charged in relation to overdue tax debts and shortfall tax will no longer be deductible from 1 July 2025.

The newly re-elected Albanese Labor Government aims to simplify claiming work-related tax deductions and provide cost-of-living relief by introducing a $1,000 instant tax deduction from 2026-27 income year.

The ATO will have additional time to notify a taxpayer if it intends to retain a business activity statement refund for further investigation.

The ATO is providing additional support for new small businesses to ensure they understand and comply with their tax, superannuation and registry obligations

In an initiative to promote women’s economic equality, the Labor government has announced plans to pay superannuation on paid parental leave (PPL) for government-funded payments from 1 July 2025.

Tax time 2024 is fast approaching and with many individuals still working from home partially or completely, this quick guide can assist you with completing the calculations for claiming the deduction.

As per amended legislation, from 1 April 2024, the Commissioner will allow utilising adequate alternative records holding all the prescribed information, instead of statutory evidentiary documents for FBT record keeping purposes.

The Federal Government announced in the 2023–24 Mid-Year Economic and Fiscal Outlook (MYEFO) that amendments will be introduced to deny deductions for ATO interest charges, incurred on or after 1 July 2025.

The Productivity Commission released a draft report reviewing philanthropic giving in Australia and recommending various reforms

The ATO has released 2 taxpayer alerts flagging incorrect R&D tax offset claims where expenditure is incurred by associated entities or activities are conducted overseas for foreign related entities.

Updated ATO guidance means you need to understand whether your contract for services are to an employee or an independent contractor. Getting it right can save you significant hassles and penalties.

The federal government has tabled draft legislation to change tax concessional treatment of very large super account balances from 1 July 2025. Individuals with over $3 million in super will be affected.

The ATO has finalised determinations under s 396-55(b)(2) and s 396-70(4) of the Tax Administration Act 1935 on reporting exemptions and exclusions for sharing economy platform operators.

PCG 2022/1 allows a safe harbour for taxpayers to apply prior year non-commercial loses to reduce other assessable income, otherwise prevented by div 35 of ITAA 1997.

If your medical practice pays contractors, you could be caught by tax laws that deem some contractor payments the same as wages. Talk to us today for guidance on what to include and exclude so you don't get surprised by a state payroll tax audit.

The ATO released draft TR 2023/D2 which provides guidance on whether an asset that is made up of a number of parts or components (composite item) is itself a depreciating asset, or whether one or more of its components are separate depreciating assets.