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The tax office has reiterated it will be paying close attention to taxpayers earning income through car-sharing platforms, in line with its focus on the share economy this tax time.

Bankruptcy is a legal process whereby a person is declared unable to pay their debts.

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The ATO has outlined key risk factors, behavioural triggers and paper trails that will draw its attention to your client’s SMSF this financial year.

The tax office’s new approach to determining whether entities are resident under the central management and control test has drawn flak from industry bodies, noting technical issues with the guidance and disagreeing with the interpretation of the law.

Ahead of one of its biggest deductions crackdowns, the tax office has released a series of common mistakes and misunderstandings taxpayers make at tax time.

Recently the NSW Government announced additional assistance for all farmers in NSW to prepare for and manage the current severe drought. Some of the new provisions include: A $250m top

          The Australian Taxation Office has released further guidance on when SMSFs need to report events affecting their members’ transfer balance accounts (by making a transfer

Warning:  Identify theft scams 

            Legislation has also been introduced to prevent employers from using an employee’s salary sacrifice contributions to reduce the employer’s own minimum SG contributions. Some

While it’s unlikely that traditional accounting will be replaced by a blockchain method in the near future, accountants should keep a keen eye for any developments and be prepared to deal with new standards in accounting for cryptocurrencies.

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