Unpaid “crypto” tax another big target for ATO revenue collection
For some time now, the ATO’s data matching arm has been collecting bulk records from Australian cryptocurrency designated service providers. It follows a growth in…
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Read MoreUnpaid “crypto” tax another big target for ATO revenue collection
Client Newsletter – November 2019
Lost or destroyed tax records? Don’t panic Now and then, taxpayers may find themselves in a situation where they simply have no records to back…
Regulatory Roundup – November 2019
Draft guidance directs that capital gains are not to be included in FITO limit A draft taxation determination has been issue by the ATO to…
The SMSF sector is growing by $23,200 every minute
The latest statistical report from APRA has been released (here’s a link to download it — ), which of course mainly focuses on the APRA-regulated…
SMSF event-based reporting: What needs to be reported, what doesn’t
Since event-based reporting started for SMSFs from 1 July 2018, the ATO says that for the larger part, SMSF trustees have mostly adjusted to the…
Asbestos removal, even testing, may be deductible
There is a taxation ruling (in draft form at the moment) that spells out when a rental or commercial property owner may be able to…
An FBT reporting exclusion for personal security concerns
The ATO has plans in place that it can put into operation to relieve certain employers from reporting all the fringe benefits they provide to…
Fictions (and facts) about work expense deductions
There can be varied sources for some of the myths about tax deductions —pub-talk, BBQ-banter, hairdresser-homilies, what-your-taxi-driver-just-heard and many others. We sort out fact from…
CGT when spouses have different main residences
It can sometimes be the case that spouses can have different main residences at the same time. When this occurs, special CGT rules apply to…