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‘A simple mistake can attract our attention’: ATO reminder about FBT slips-ups

The tax office has issued a reminder to tax professionals about some simple, but common, errors which often attract its attention with fringe benefits tax (FBT).

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Beware residency rules if moving overseas

SMSF trustees are often unaware that if they move overseas for an extended period of time, their SMSF may fall foul of the ATO’s residency rules and they may face a heavy tax bill.

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Meaningful tax reform in high demand

Comprehensive tax reform continues to dominate wish lists for the upcoming federal budget, with support for change to state-based taxes particularly high, according to a new survey.

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Working holidaymakers and tax returns

If your business employs working holidaymakers – or you’ve been one yourself this year! – you need to satisfy the “backpacker tax” s that came into effect from 1 January 2017.

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ATO issues update on cryptocurrency compliance traps

The ATO has provided further details on some of the regulatory considerations with cryptocurrency for SMSFs, including valuations, in specie contributions and ownership of assets.

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Accountants spy elder abuse spike as mortgage stress sets in

Housing affordability is tempting some adult children into elder abuse territory, as they look to their parents' retirement savings to alleviate their mortgage stress.

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Get Ready for ATO E-Audits

In this fast-paced world of everchanging technology, the ATO is finally catching up with the times by using computer assisted verification techniques to conduct audits, a process they are calling

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Bitcoin – Part 2

Part 1 of our series on bitcoin looked at the tax consequences for those who invest in bitcoin on a personal level. Here, in Part 2, we examine the tax consequences

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