Tax & Compliance
ATO tipped to be ‘unshackled’ in 2021
The ATO has been tipped to devote more resources to its audit and debt collections teams over the coming months as the government looks to make up for lost ground in 2021...
IPA reignites call for small business CGT concessions reform
The government has been urged to turn its eye towards the small business capital gains tax concessions as fears mount that it will continue to grow at an unsustainable ra...
Ombudsman calls for ‘transparent and predictable’ R&D tax incentive
Eligibility requirements for the research and development tax incentive should be overhauled, says the Australian Small Business and Family Enterprise Ombudsman.
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Treasurer details tax-free coronavirus grants
Six Victorian coronavirus grant programs will now be exempt from income tax following a declaration from Treasurer Josh Frydenberg.
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Returning Australian expats cautioned on tax traps
Thousands of Australian expats waiting to return home amid the coronavirus pandemic have been urged to give thought to their tax affairs to avoid a hefty tax bill on retu...
80¢ per hour work-from-home deduction method extended
Taxpayers continuing to work from home in the new year will be allowed to continue using the simplified working-from-home deduction method following a third extension by ...
Audit quality dips despite big six improvement
The corporate regulator has put auditors on notice as audit quality continues to fall despite the big six accounting firms improving their results.
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Sole trader triumphs in JobKeeper test case
The Administrative Appeals Tribunal has overturned an ATO decision to deny a sole trader access to JobKeeper after it found that his backdated ABN registration satisfied ...
ATO issues reminder on early release of super
With the COVID-19 early release of super program now closed, the ATO has reminded members that payments for applications submitted by 31 December will be made throughout ...
Key dates for the second JobKeeper extension period
The JobKeeper program moves into its final phase from Monday, with payment rates set to be reduced.
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