Newsletter
April 2018 Newsletter
ATO embarking on e-Audits
The ATO has recently published information about the “e-Audit” technology it uses as part of its tax compliance activities. These audits involve the ATO performing computer tests on...
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Court finds pay-as-you-go amounts withheld from salary payments
The Federal Court has ruled that pay-as-you-go (PAYG) amounts were “withheld” from a taxpayer's salary payments so that she was entitled to a tax credit, despite the amounts...
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Transition to retirement pensions to become simpler
In welcome news for superannuation members, the government has announced plans to simplify the payment of transition to retirement income streams (TRISs) so that...
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ATO releases latest small business benchmarks
The ATO has released its latest small business benchmarks, providing over 100 different industries with average cost of sales and average total expenses...
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Superannuation rates and thresholds for 2018-2019
We summarise some of the key superannuation rates and thresholds for the upcoming financial year...
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Super guarantee: ATO compliance approach to non-payment
The ATO has released a fact sheet explaining its compliance approach to employers who fail to meet their superannuation guarantee (SG) obligations...
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Single Touch Payroll reporting: ATO urges employers to get ready
The ATO is urging employers with 20 or more employees to start preparing now for the Single Touch Payroll (STP) reporting regime, which will be mandatory from...
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Goods and services tax on low-value imported goods
From 1 July 2018, goods and services tax (GST) will apply to some offshore supplies of goods valued at $1,000 or less that are purchased by consumers and brought into Australia...
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Capital gains tax withholding: updated information for trustees
The foreign resident capital gains tax (CGT) withholding regime requires purchasers of Australian property to withhold an amount from the purchase price (for remission to the...
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