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New ATO rulings, determinations, decisions and guides

The following key Taxation Rulings, Taxation Determinations, Interpretative Decisions and Law Companion Guides have recently been released: TR 2018/3 Taxation Ruling 2018/3 explains the methods acceptable to the Commissioner for returning income derived and recognising expenses incurred in long term construction projects. This Ruling affirms that the completed contracts method remains unacceptable under the income

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Upcoming ATO webinar in April

Topic Description Date and Time (Time in AEDT)           CPD Hours FBT for NFPs This webinar covers: FBT registration Available rebates and concessions Tips for completing FBT returns   Wednesday,4 April 2018   1:00pm – 2:00pm (AEDT) 1.0

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Upcoming TPB webinars in April

Topic Description Date and Time (Time in AEDT)           CPD Hours Supervision and control Ensure you have adequate supervision and control in your practice to direct, oversee and check the services provided on your behalf. Thursday, 19 April 2018 11:00am – 12:00pm (AEDT)   1.0 Tax (financial) advisers – do you know the Code? Learn about

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It’s not just taxpaying clients on thin ice over dodgy claims

In the ATO’s most recent tax professional webcast, a viewer posed the statement: “Agents lodging incorrect claims should be weeded out.” In response, one of the panel, Assistant Commissioner Kath Anderson, agreed that it is in everybody’s best interests to have a level playing field, but added, referring to practitioners, not their clients: “We need

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Common client mistake on GST – ATO warning

Tax professionals have been reminded by the ATO of a misconception that some taxpayers continue to make each income year regarding their eligibility to make claims for GST credits. The reminder, issued in the middle of the third quarter of the 2017-18 income year, seeks to enlist the help of tax agents at more of

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