Our Insights
Super comparison tool updated
The YourSuper comparison tool helps individuals compare super products and choose a fund that meets their needs It ranks the performance of super products by
Small business tax incentives back on the table
The Government has confirmed its commitment to implementing two tax incentives These aim to support small businesses to train and upskill employees, and improve their
ATO reminder about appointing an SMSF auditor
The ATO is reminding trustees of self-managed super funds that they need to appoint an approved SMSF auditor This must occur no later than 45
More COVID-19 business grants are now tax-free
Federal Government expands tax-free status of more COVID-19 grant programs The Federal Government has expanded the list of State and Territory COVID-19 grant programs that
Superannuation support contractor case
Sessional lecturer entitled to superannuation support The Federal Court has agreed with the ATO that a lecturer providing services to a higher education provider was
Discretionary trusts and corporate beneficiaries
Tax treatment of deemed dividends When a trustee of a trust makes a decision to create an entitlement to income of the trust in favour
Pandemic Leave Disaster Payment reinstated
Pandemic Leave Disaster payment In recognition of the risks associated with more infectious new Covid-19 variants through the winter period, the Federal Government has agreed
Rental property income and deductions focus
Tax time focus on rental property income and deductions The ATO is focusing on four major concerns this tax season when it comes to rental
Single Touch Reporting Phase 2
Get ready for STP Phase 2 in Xero The next stage of the Single Touch Payroll (STP) journey is coming soon in Xero. STP Phase
ATO to target ‘wash sales’ this Tax Time
Wash sales are a form of tax avoidance that the ATO is focused on this tax time The ATO is warning taxpayers to not engage
Individual car expenses
ATO updates ‘cents per kilometre’ rate for individuals The ATO has updated the cents per kilometre rate relating to individual car expenses for the 2023
Downsizer contributions age changes
Downsizer contributions age changes from 1 July 2022 From 1 July 2022, people aged 60 years and over became eligible to make downsizer contributions of
