From pointonpartners.com.au: The ATO issued a taxpayer alert regarding concerns over restructuring trusts to improperly access the MIT withholding regime, particularly when these arrangements lack a legitimate commercial purpose.

A new draft determination disregards certain payments under section 109R of the ITAA36 related to loans to private companies, and a tribunal ruled on a taxpayer’s residency status under the ordinary concepts and domicile tests.

From April 2025, 3,500 non-compliant small businesses will be shifted from quarterly to monthly GST reporting to enhance compliance.