Lisa To, a taxation lawyer at Bartier Perry, told Accountants Daily that the ATO’s growing focus on Section 99B - a provision under the Income Tax Assessment Act 1936 that seeks to tax a broad range ...

Sole traders: Taxed at prevailing marginal rates. The marginal rate of tax refers to the percentage of tax you pay on each additional dollar of income you earn within a specific income bracket. This ...

"The ATO has been applying maximum pressure to collect its debts. Many businesses have simply ceased paying the ATO as they struggle with increased costs due to inflation. In the hospitality sector, ...

"If the ATO could work more closely with Services Australia to improve the frequency and quality of the information referred, and improve its data matching, it might lead to better enforcement, which ...

Australians shouldered the biggest increase in income tax rates in the developed world last financial year due to bracket creep and the end of the LMITO, according to a report from the OECD. In the ...

Succession planning has recently been nominated by the ATO as a key area of focus on its website. This is driven by the significant wealth transfer occurring as businesses established in the 1960s, ...

The revised client-agent linking (CAL) system became mandatory for all ABN holders except sole traders in November in a bid to tighten fraud controls by making businesses responsible for linking their ...

RSM has urged construction businesses to build adequate cash flow buffers into their operations to account for unexpected costs and late payments, noting that construction firms often get caught out ...

The new pathway program provides students with a "non-traditional route into the profession" focused on hands-on learning and real-world applications, the Institute of Public Accountants (IPA) has ...

KPMG plans to cut 30 jobs as part of a restructure of its legal business that will see the big four firm’s commercial law practice close and its remaining legal services folded into other divisions.

When asked on ABC TV whether he was considering taking negative gearing reform and capital gains tax reform to the next election, Albanese said: “No, we’re not. What we’re doing is planning for our ...

For practitioners, compliance with these codes is crucial. Two new codes, namely Code 15 and Code 16, were implemented on 1 January 2024. Code 15 prohibits registered practitioners from employing or ...