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ATO drills in car-sharing focus this tax time

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.

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Update of Australia’s vital statistics

          Please click on the following link to see all this interesting information. The areas covered are: Overview Markets GDP Labour Prices Money Trade Government Business

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ATO speaks on risk factors, surveillance triggers for FY19

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.

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ATO’s corporate residency guidance cops backlash

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.

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ATO dispels top tax time myths to clients as clampdown rolls out

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.

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NSW Drought Relief

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

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Guidance for SMSFs on transfer balance reporting

          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

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Salary sacrifice integrity

            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

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Understanding the evolution of blockchain and cryptocurrencies

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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Update to Australia’s vital statistics

        Please click on the following link to see all this interesting information. The areas covered are: Overview Markets GDP Labour Prices Money Trade Government Business Consumer

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