News

ATO updates crypto guidance

The ATO has updated its guidelines on the tax treatment of cryptocurrencies, including issues on exchanging one cryptocurrency for another and record-keeping requirements.

Senate passes $20,000 instant asset write-off extension

Despite months of delays, the Senate has today passed legislation to extend the $20,000 instant asset write-off to 30 June 2019.

Reverse mortgages: Short-term gain, long-term pain

Residential property has long been a major store of wealth for average Australians.

ATO set sights on 27,000 funds in ongoing crackdown

While efforts by tax agents and the ATO has seen a dramatic drop in the number of non-lodgers, 27,000 registered SMSFs that have not lodged since their establishment remain on its radar.

Victorian Vacant Property Tax

Residential property tax of 1% of the property’s capital improved value is imposed on vacant properties.           Properties will be deemed vacant if they are left unoccupied for six months or more in a calendar year.  Exceptions include deceased estates, renovations and holiday homes. It is understood to be enforced by […]

ATO zones in on hundreds of newly created reserves

ATO deputy commissioner James O’Halloran

A dynamic approach to retiree spending and drawdowns

Here's a critical question for retirees and those nearing retirement: How much are you intending to drawdown and spend each year from your retirement savings?

Director Penalty Notices

If a company fails to comply with their obligations under the PAYG withholding system or the SGC provisions, company directors can be held personally liable for the amount the company should have paid.           The Australian Taxation Office can force directors of a company that is unwilling or unable to meet […]

Your investment freedom-maker

Given that repeated research has found that a diversified portfolio's asset allocation is responsible for the vast majority of its variations in returns over time, it makes much sense for investors to get it right.

ATO set to pounce on undisclosed income streams

The ATO has warned that it will be increasing efforts to identify taxpayers who leave out certain payments and foreign income streams, as new international reporting standards kick in this month.

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