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Tax & Compliance

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Full expensing, loss carry-back extended to 2023 The government will extend the temporary full expensing and loss carry-back measures for a further 12 months as it attempts to spur businesses to continue riding an inves...
‘A temporary stimulus measure’: $1,080 tax offset extended Up to 10.2 million workers will continue to benefit from a $1,080 tax offset for a further year as the government locks in the low and middle income tax offset for the 20...
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Tax residency rules set for overhaul to attract talent Individual tax residency rules and the tax treatment of employee share schemes are set for an overhaul as the government looks to attract talent to Australia in the wake ...
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ATO handed mandate to police not-for-profits Not-for-profit entities will soon have to disclose why they should be exempt from income tax as the government turns to the ATO for greater oversight over the sector. ...
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Facebook browsing leads to taxpayer’s work-related deduction downfall Close scrutiny of a Tasmanian man’s internet browsing history has led to him being denied his work-related expense claims, as the Administrative Appeals Tribunal stress...
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FBT is a ‘dying tax’, says mid-tier A mid-tier firm has called for fringe benefits tax to be scrapped, starting in regional Australia, arguing that the inefficient tax is stifling the nation’s economic re...
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ATO debt recovery action can now be paused by the AAT: Josh Frydenberg Small businesses will now be able to pause ATO debt recovery action through the Administrative Appeals Tribunal as part of a new measure contained in the federal budget. ...
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‘Too simplistic’: Standardised deductions aren’t a silver bullet The introduction of a $3,000 standardised deduction would likely effect little change to the way tax returns are prepared and submitted, says one industry body. W...
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ATO signals crackdown on 4 ineligible work-from-home claims As tax time looms, the ATO has pointed to four key ineligible work-from-home claims it will be watching closely as taxpayers look to make the most of flexible working arr...
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Expanding self-education deductions a ‘no-brainer’, says IPA Allowing taxpayers to claim deductions for education and training expenses unrelated to their current jobs will remove a disincentive within the tax system, says one prof...
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Senate committee suggests separate R&D tax incentive for software A Senate committee into fintech and regtech has urged the government to introduce quarterly R&D tax payments for technology firms, along with new requirements that wo...
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