The Accounting Division Blog
Tax time focus areas for businesses
A recent interview with Tax Commissioner Chris Jordan revealed details of what the ATO will be paying particular attention to this year. Perhaps not surprising,
Temporary full expensing of assets extended
The temporary full expensing of depreciating assets has been extended for another year until 30 June 2023. The measure was originally introduced in 2020 as
Airbnb and home sharing: Taxing implications
Do you rent out a part of your home, or a holiday home, on Airbnb, Stayz or another sharing site? Perhaps you see this as
Changes ahead for inactive super accounts: are you affected?
Got an old super fund account you haven’t touched for years? New rules mean “inactive” accounts (ie no contributions or rollovers for 16 months) will
Federal Budget 2019 Spotlight
The 2019 Budget was handed down on Tuesday 2 April by Treasurer Josh Frydenberg a matter of days before Prime Minister Scott Morrison is due
Election 2022: Bills not passed
With the government in caretaker mode after calling the election, Bills that had not passed both the Houses of Parliament now suffer an uncertain fate.
ATO spotlight on Visa holders, sponsors and migration agents
The ATO has launched the latest round of their data-matching program to include all visa holders, visa sponsors and migration agents. The ATO will request
Cash payments limit coming soon
As a part of the crackdown on black economy, the Government is planning to introduce an economy-wide cash payment limit of $10,000. Any payments made
Three common CGT obstacles for homeowners
Many homeowners are not aware that the “main residence” rules exempting the family home from capital gains tax (CGT) are in fact quite complex and
Be careful when changing business structures
If your small business has not only survived but thrived during the pandemic, you may be considering a change of business structure, typically from sole