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Tax consequences of trust vesting

The Australian Taxation Office (ATO) has issued a long-awaited ruling on trust vesting, including changing a trust’s vesting date and the CGT and income tax consequences of vesting

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ATO to contact clients over bank details

The Tax Office will be sending SMS text messages to clients who provided incorrect bank account details in their tax return over the next few weeks.

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ATO claws back $850m in unpaid SG in FY 17-18

Compliance activities undertaken by the ATO in the 2017-18 financial year saw the ATO raise around $850 million in unpaid super entitlements.

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Appetite for property in SMSFs shows signs of life despite tough market

Interest in property investment from younger SMSF trustees continue to hold steady despite tighter policy controls around SMSF lending and some banks exiting the space altogether, says one mid-tier firm.

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Superannuation gender gap narrowing, research shows

Over the past decade, there has been improvement in the number of women holding superannuation accounts and the size of their superannuation balances compared with that of men, according to a research house.

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The Government has announced a package of reforms to combat phoenix activities, including the introduction of a Director Identification Number (DIN).

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$20m boost for SME clients looking to exporting

Accountants with SME clients looking for export opportunities have been given a leg up with the launch of a government-funded $20 million program.

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Work-Related Expenses

          This year, the Australian Taxation Office is paying close attention to what people are claiming as ‘other’ work-related expense deductions. The expectations are:- they spent

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ATO updates crypto guidance

The ATO has updated its guidelines on the tax treatment of cryptocurrencies, including issues on exchanging one cryptocurrency for another and record-keeping requirements.

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