Masters course fees not deductible as self-education expenses
The Administrative Appeals Tribunal (‘AAT’) has held that tuition fees for a public policy Masters course were not deductible, on the basis that the course
Proportional indexation of transfer balance caps from 1 July 2023
The ATO reminds taxpayers that, on 1 July 2023, the general transfer balance cap will be indexed. Individuals will have a personal transfer balance cap
Know your private company loan arrangements before you lodge
The ATO advises taxpayers that, if they or an associate take a loan from their private company, they should not forget the requirements of repaying
Minimum annual payments for super income streams
The ATO reminds taxpayers that an SMSF must pay a minimum amount each year to a member who is receiving a pension that commenced on
The super guarantee rate is increasing
Businesses that have employees, or hire eligible contractors, will need to ensure that their payroll and accounting systems are updated to reflect the new super
Court penalises AMP $24 million for charging deceased customers
The Federal Court has found that four companies that are or were part of the AMP Group breached the law when charging life insurance premiums
ATO ride sourcing data-matching program
The ATO will acquire ride sourcing data relating to approximately 200,000 individuals to identify individuals that may be engaged in providing ride sourcing services during
ATO advice regarding year-end trustee resolutions
The ATO has advised that, in the lead up to 30 June, trustee clients who wish to make beneficiaries presently entitled to trust income for
In the ATO’s sights this Tax Time
The ATO has announced its three key focus areas for this Tax Time: ATO Assistant Commissioner Tim Loh said the ATO is continuing to prioritise