From www.lowelippmann.com.au: Lowe Lippmann Chartered Accountants provides essential tax management tips for small business owners, including keeping accurate records, setting aside GST, and planning for BAS submissions.… read more
From www.bantacs.com.au: Property investors should be aware of year-end tax strategies, particularly regarding deductions for general expenses and property repairs.
It’s essential to distinguish between repairs, which are deductible if incurred before the financial year ends, and improvements that are not.… read more
From www.themandarin.com.au: Prime Minister Anthony Albanese emphasised the need to restore Australia’s public service before pursuing major national reforms, following his re-election victory.
He highlighted issues such as a struggling immigration system, inadequate Veterans’ Affairs support, and a housing crisis that require immediate attention.… read more
From prosolution.com.au: Investors have three options for personal property ownership: joint ownership, sole ownership, and tenants-in-common (TIC), each offering unique benefits.
Sole ownership can maximize tax savings and minimize land tax liabilities, while joint ownership simplifies estate planning and reduces capital gains tax liabilities.… read more
From johnjeffreystax.com.au: In the case of Merchant v Commissioner of Taxation, the Full Federal Court determined that Mr. Merchant’s actions, which involved crystallising a capital loss to offset a significant capital gain, constituted tax avoidance under Part IVA due to the sale of the BBG shares to a related party.… read more
From www.lawyersweekly.com.au: [podcast] Includes reflections on the implications of the high-profile PepsiCo proceedings in the High Court, challenges facing practitioners in this space, how different the climate may be for tax lawyers post-election, and how such practitioners are clamouring for change.… read more
From www.accountantsdaily.com.au: The 2025 Federal Election highlights key tax and superannuation policies proposed by the ALP and the Coalition.
ALP initiatives include a 20% reduction on student loans and a $1,000 instant tax deduction for work-related expenses, while the Coalition promises a one-off income tax offset of up to $1,200 and allows first home buyers to access superannuation for home deposits.… read more
From www.pwc.com.au: PwC’s Monthly Tax Update for May 2025 provides insights into recent developments in corporate tax, employment tax, international tax, indirect tax, state taxes, and superannuation.… read more
From www.themandarin.com.au: The Australian Services Union has raised concerns that proposed cuts to the Australian Public Service by the federal opposition could significantly impair revenue collection functions at the Australian Taxation Office.… read more
From au.investing.com: Alcoa Corporation successfully resolved a tax dispute with the Australian Taxation Office, with the Administrative Review Tribunal ruling no additional tax is owed on alumina sales.… read more
From pointonpartners.com.au: The End of April Tax Update discusses recent developments in taxation law, including the cancellation of a portion of a taxpayer’s debt on serious hardship grounds, the application of Part IVA to negate a capital loss on shares, and the distinction between capital and income regarding proceeds from land development.… read more
From www.knowledgeshop.com.au: The ATO has issued an interim decision impact statement on the Bendel case, confirming it will not change its stance on the treatment of unpaid distributions owed to corporate beneficiaries until the appeal process concludes.… read more
From www.corrs.com.au: The Full Federal Court ruled that a capital loss from the sale of ASX-listed shares to a related entity was subject to Part IVA anti-avoidance provisions, noting that transactions lacking genuine ownership transfer can be viewed as artificial.… read more
From www.taxinstitute.com.au: The Full Federal Court ruled in favour of Mr. Bendel, determining that an unpaid present entitlement owed to a corporate beneficiary is not classified as a loan under subsection 109D(3) of Division 7A of the Income Tax Assessment Act 1936.… read more
From www.icaew.com: (UK context) The UK government announced tax simplification measures on April 28, 2025, including a delay in mandatory payrolling of benefits in kind until April 2027.… read more