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Last-minute tax planning tips for individuals

The current financial year is almost at an end, and with an election to be held two days later the recently announced federal budget measures will of course have no chance to take effect until some time into the next financial year, if at all. But in the meantime there are still many strategies you

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Key changes for Tax Time 2016: An overview

The ATO has issued some brief guidance on the key changes and new measures to be aware of when completing tax returns. Some of the changes of note include the tax concessions for small business, changes to gender identifiers, the new tax system for managed investment trusts and increasing access to company losses. Simplified depreciation

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Attention: BAS agents! An extension of services

Attention: BAS agents! An extension of services. If you are a BAS agent registered with the Tax Practitioners Board (TPB), you should be aware that you can provide services in the areas of FBT, GST/BAS and PAYG. From 1 June 2016, the TPB has now extended the definition of a BAS service to enhance your

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Tax transactions in technology’s fast lane

Tax transactions in technology’s fast lane The move from lodging on paper to the technology-driven Australian Business Register program is saving an estimated $1.2 billion for the 2015-16 financial year, according to a recent study by accounting firm Deloitte. Commissioned by the ATO, the research study notes that the savings in the five years leading

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Internal tax documents released — a peek into court interpretations

The ATO has released on its legal database a series of what until recently have been internal ATO documents. Internal tax documents released — a peek into court interpretations The release of these documents in an initiative that the ATO has labelled “interpretation NOW!” and is, according to assistant commissioner Gordon Brysland, “a reinvention initiative

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