Legislation
From the 2023/2024 tax year, certain charitable not-for-profits with active ABNs will need to provide information about their income tax status to the ATO via a self-review return.
Just because an agreement states that a worker is an independent contractor, this does not mean that they are a contractor for tax and superannuation purposes, new guidance from the ATO warns.
The Associations Incorporation Reform Regulations 2023 came into effect in November 2023 and brought with it some changes to some reporting requirements.
The Vacant Residential Land Tax (VRLT) has been extended to cover residential property in the whole of Victoria, capturing more properties within the scheme.
The ATO's definition of a 'school' has been shaken up by a recent Federal Court decision.
The ‘Small Business Technology Investment Boost’ is currently sitting with parliament, but with a potential 20% bonus deduction to businesses, it could represent a timely boost amidst rising costs.
With the continuing trend towards working from home arrangements, the ATO has renewed the way taxpayers can claim deductions for costs incurred when working from home.
In his first Budget, Treasurer Jim Chalmers used the opportunity to update the shifting economic sands and reset spending priorities to align with the new government’s policy agenda.
Queensland Premier Annastacia Palaszczuk has announced that its controversial land tax, which was to be calculated taking into account the total value of an owner’s Australia-wide land holdings, is to be dumped.
The Superannuation Guarantee (SG) rate will rise from 10% to 10.5% on 1 July 2022 and will continue to increase by 0.5% each year until it reaches 12% on 1 July 2025.
From 1 July 2022, the work-test has been scrapped and individuals aged younger than 75 years will be able to make or receive non-concessional contributions or salary sacrifice superannuation contributions.
The ATO has recently added some new examples on its website to help explain the requirements for exempt fringe benefits provided to religious practitioners.
Subscribe to receive updates from our newsletter