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R&D tax incentive to apply to certain clinical trials The Federal Government has announced that investment in clinical trials for therapeutic goods will be eligible for the Research and Development Tax Incentive (R&D Tax Incentive). This will result in “phase...

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ATO: Scheduled maintenance over closedown period The ATO has advised that it will be undertaking scheduled maintenance on a number of their systems over the annual closedown period from midday Friday 24 December 2021 until they reopen on Tuesday 4 January 2022. During this...

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Tax Return Tips
Company directors are now required to verify their identity by applying for a new director identification number (DIN). This includes directors of an SMSF corporate trustee, family trust and directors acting in the capacity of an alternate director, even if...

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ConsultGuyHome
Tax & Super Australia (TSA) has re-affirmed its commitment to continue to provide members with practical, best practice and well-rounded CPE options after the Tax Practitioners Board (TPB) confirmed an increase in CPE requirements for tax agents and BAS agents....

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Tax & Super Australia (TSA) has welcomed the Australian National Audit Office’s (ANAO’s) announcement that it will audit how the ATO supports and engages with tax agents. The ANAO said the audit’s objective was to assess the effectiveness of the...

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Here is the full story of the CGT treatment of knock-down rebuilds. The existing law Were it not for the policy position the ATO takes on its website at QC 64895 (based on withdrawn ATO IDs 2003/232 and 2003/466), the...

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Prima-facie, a partial CGT main residence exemption can apply to a knock-down rebuild of a person’s home. This is because in determining if the dwelling qualified as a main residence throughout its “ownership period”, this period of ownership begins when...

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As Inspector-General of Taxation and Taxation Ombudsman (IGTO), Karen Payne wants to improve the administration of tax laws and give all Australians – deep pockets or not – a fair go when dealing with the tax system. Karen spoke to Tax...

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Several superannuation proposals announced in this year’s Federal Budget have been introduced into Parliament in the Treasury Laws Amendment (Enhancing Superannuation Outcomes for Australians and Helping Australian Businesses Invest) Bill 2021. These measures aim to: Improve flexibility for Australians preparing for...

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Tax & Super Australia (TSA) has welcomed the ATO’s decision to give businesses and digital service providers (DSPs) more time to transition to phase 2 of single touch payroll (STP) in light of the extra workload businesses have taken on...

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