Authoritative and technically accurate information and guidance on all areas of tax

Lost your tax file number? Here’s what to do

If you’ve lost your tax file number (TFN) there are a few options for you to try to get it back. Your first avenue of inquiry, if you use the services of a tax agent or accountant, will be to ask them for your tax file number as you will have previously provided it to

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Tax deductibility of ‘non-compliant’ payments about to get the chop

From 1 July 2019, businesses will only be able to claim deductions for payments that are made to workers (employees or contractors) when the employer has complied with the pay-as-you-go (PAYG) withholding and other tax reporting obligations for that payment. If the PAYG withholding rules require a business to withhold an amount from a payment that

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Is penalty interest deductible? Yes, and no, and maybe

A new ruling has been released by the ATO on the deductibility or otherwise of penalty interest. Ruling TR 2019/2 replaces an earlier ruling on the same topic that has since been withdrawn (TR 93/7W), and spells out the circumstances when penalty interest is generally deductible and the situations where this is not the case.

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The new residency landscape that clients will need to understand

In February this year, a Full Federal Court decision (Harding v Commissioner of Taxation) threw what practitioners knew about Australia’s residency rules on its head. It came after a Federal Court decision found that a taxpayer was a resident for tax purposes, with the FFC overturning that decision. It was after this that the ATO

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