Why the ATO non-binding web guidance is “toilet paper”
From cadenalegal.com.au: The ATO has been issuing non-binding web guidance, leading to concerns among tax professionals about its reliability for interpreting complex tax laws. … read more
Month: December 2024 AWST
Guide to Small Business CGT Concessions
From cadenalegal.com.au: Small business owners in Australia may qualify for CGT concessions if they meet specific eligibility conditions, including turnover and asset values.
Additional … read more
Key Corporate Tax developments: 2024 year in review
From Arnold Block Leibler: Key corporate tax developments of 2024, from ATO assurance programs and tax compliance to changes in diverted profit tax judgments, … read more
Tax changes in 2024
As 2024 concludes, key developments in Australia’s tax landscape for small and medium-sized accounting firms are highlighted – from www.accountantsdaily.com.au
Notable changes include the ATO’s … read more
Criminalisation of wage underpayments
Reported at colemangreig.com.au: Starting January 1, 2025, employers in Australia will face criminal liability for intentional underpayment of wages, with the offense requiring proof … read more
TPB guidance to support tax practitioners
The Tax Practitioners Board issued new guidance to support tax practitioners in compliance with reforms to the Code of Professional Conduct, designed to enhance ethical … read more
December 2024 ESG Policy Update
From www.klgates.com: Australia committed AU$75 million to Singapore’s FAST-P initiative to support the clean energy transition in Southeast Asia.
The updated Cyber Security Governance … read more
Key Changes to the Franchising Code for 2025
From sladen.com.au: The new Franchising Code of Conduct will take effect on April 1, 2025, introducing significant changes that include requiring franchise agreements to … read more
6 Ways High-Income Earners Reduce Taxes in Australia (2024 Update)
From cadenalegal.com.au: High-income earners in Australia can utilize six legal strategies to reduce their tax liabilities, including efficient business structuring, negative gearing on investments, … read more
Damages for psychiatric injury in employment
From hallandwilcox.com.au: The High Court of Australia awarded Mr. Elisha $1.44 million in damages after finding that Vision Australia breached his employment contract, which … read more
Debt deduction creation rules now operative for many taxpayers
From www.pitcher.com.au: From 1 July 2024, the Debt Deduction Creation Rules (DDCR) will permanently deny tax deductions for certain debt payments related to transactions … read more
Super Alert – 20 December 2024
From www.khq.com.au: On December 19, 2024, Treasury published the first edition of its ‘Regulatory Initiatives Grid’ to help financial services businesses engage effectively with … read more
Not-for-profit financial reporting to get a shake up
From www.pitcher.com.au: The Australian Accounting Standards Board is introducing changes to not-for-profit (NFP) financial reporting with new Exposure Drafts, requiring certain NFP entities to … read more
What’s in the 2024-25 Mid-Year Economic Review?
From www.knowledgeshop.com.au: The 2024-25 Mid-Year Economic and Fiscal Outlook reveals a projected increase in the budget deficit by over $21.8 billion over four years, … read more
NSW Government Bulletin
From www.holdingredlich.com: The NSW government has been criticized for spending more public money on coal promotion than on transitioning away from coal, as revealed … read more