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Standard deductions and other tax reforms

I remember John Jeffreys summarising his first JobKeeper webinar and bringing up the mental wellbeing of accountants and the stress the additional work will bring as well as working from home. If the ATO keeps up the pressure of demanding late returns and doing tax audits, which will keep us away from catching up on current returns, family time, health

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Legal corner: What happens in a commercial court case?

A commercial court case can be a daunting experience. If you or your client are a party to a case, you’ll want to learn the steps from start to finish. Also, if you’re a witness, or you have to provide documents, you’ll need to understand your role in assisting the parties and the court. By

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Remote and non-roadside mail…

Remote and non-roadside mail delivery exposes an ASIC shortcomingI have had several clients, who live in a non-roadside mail delivery area, have their company/ies deregistered or nearly deregistered. Irrespective of who sets up a company, ASIC require you provide your street address. This is problematic for anyone in a rural or remote area. The end

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Tax & Super Australia and the Government’s response to the independent Review of the Tax Practitioners Board final report

On 27 November 2020, Federal Assistant Treasurer Michael Sukkar MP announced the Morrison Government’s response to the final report of the independent Review of the Tax Practitioners Board. Background The review was announced in March 2019 and was led by Mr Keith James. It consulted on the effectiveness of the Tax Practitioners Board (TPB), the Tax

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Lodgment demands frustration

The lodgment demands is a problem I’m facing at the moment. The ATO has a current campaign of demanding lodgments which seems to have unreasonable timeframes. They have rung me about a lodgment and I have advised that we are working on the return whilst trying to keep up with other lodgment deadlines. They state that

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5 minute tax updates: 23-27 March

“One stop shop” for essential tax and super info on COVID-19 stimulus measuresReducing the drawdown ratesAccessing the cash flow boostBasic myGovID guidanceRide sourcing service providers to get the data-matching treatmentWET, LCT and GST administrative moves to DPN and estimates regimesWA’s relief COVID-19 measures relating to penalty tax and payment arrangementsATO’s audit support service for SMSF

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ATO rulings, guidelines, determinations — to 31 July 2019

Practical compliance guidelines PCG 2019/D2 Compliance approach for large APRA-regulated superannuation funds in respect of pension tax bonuses not included in members’ opening account balances on commencement of a pension. PCG 2019/6 OECD hybrid mismatch rules – concept of structured arrangement. PCG 2017/13 Division 7A – unpaid present entitlements under sub-trust arrangements maturing in the

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Upcoming ATO webinars in August 2019

Unclaimed money, lost member and inactive low-balance account reporting obligations.Webinar: Wednesday 14 August, 11am – noon.Register here. Aug 6, 2019 10:00 am  Planning your regular financial commitments  Aug 14, 2019 4:00 pm  Planning your regular financial commitments  Aug 22, 2019 9:00 am  Planning your regular financial commitments  Aug 26, 2019 4:00 pm  Planning your regular

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ATO webinars in July 2019

Jul 10, 2019 4:00 pm Courier services – Taxable payments: Introduction   Open Registration   Jul 23, 2019 10:00 am Courier services – Taxable payments: Introduction   Open Registration   Jul 29, 2019 2:00 pm Courier services – Taxable payments: Introduction   Open Registration   Jul 5, 2019 2:00 pm Cleaning Services -Taxable Payments: Introduction

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