Latest News

  • Tax Bulletin – April 2021
    The ATO has released its Decision Impact Statement regarding the Apted case, in which it accepts it has exercised its discretion for JobKeeper and Cashflow Boost purposes too narrowly. This opens up an avenue for review for a significant number of taxpayers. Further details of this and other updates are in our April tax bulletin. LEGISLATION UPDATE Retraining benefits—FBT exemption Draft […]
    The ATO have released the long-awaited guidance on the allocation of profits within professional services firms, together with an updated ruling on the personal services income rules. These rulings are an important read for accountants as it relates to both their own firm and to all clients in professional services industries. These and other updates are in our March Tax […]
  • Tax Bulletin – February 2021
    This month the ATO have issued rulings on employee travel expenses, outlining the principles, common scenarios and a new timeframe that the ATO will accept as an employee travelling. In addition, trusts with Family Trust Elections and potential Family Trust Distribution Tax liabilities are now on the ATO radar. LEGISLATION UPDATE Federal Budget—Superannuation measures Treasury Laws Amendment (Your Future, Your […]
  • Tax Bulletin – December 2020 and What to Expect in 2021
    The end of 2020 provided the first AAT decision in regard to eligibility for JobKeeper, ruling in favour of the taxpayer. As we move into 2021, we expect further decisions in this area, together with long-awaited guidance from the ATO on reimbursement agreements and profit-splitting for professional firms. DECEMBER 2020 TAX UPDATE Apted v CofT —Late ABN application accepted for […]
  • Tax Bulletin – November 2020
    The Government has announced a welcome change to the temporary full expensing rules, and Victoria has released the State Budget. Meanwhile, the AAT has handed down a concerning decision relating to work-related expenses in Lambourne. FEDERAL BUDGET UPDATE Changes to Temporary Full Expensing The Government has announced that it will be making the following changes to the temporary full expensing measures: […]