The Prime Minister has announced that the temporary Coronavirus Supplement will be extended until 31 March 2021, but the payment rate will be reduced from $250 to $150 per fortnight from 1 January 2021.
Read moreFeatured Resources
Tax Accountant Posts
Sales of vacant subdivided land subject to GST: San Remo Heights Pty Ltd v FCT
The Small Business Claims Tribunal has held that a company (the “taxpayer”) was liable to GST on the sale of 2 lots of vacant land acquired in 1962: San Remo Heights Pty Ltd v FCT.
Read more
All DGRs to be ACNC registered: draft leg released
Treasury has released exposure draft legislation which, if implemented, will require a fund, authority or institution seeking endorsement as a Deductible Gift Recipient (ie a DGR) to be an Australian government agency, a registered charity, or operated by an Australian government agency or a registered charity.
Read more
SMSF annual returns: late lodgment may impact fund status
The ATO has reminded trustees of self-managed super funds (SMSFs) that the annual return due date for some funds is 31 October.
Read more
The future of employer super
What will be the impact on employer super of recent Australian Government announcements in the Federal Budget?
Read more
Federal Budget 2020-21: Initial observations on some of the major tax measures affecting business
This year’s highly anticipated Budget sets in motion key aspects of the economic recovery plan through a mixture of tax cuts, business concessions and bold measures to stimulate spending and investment.
Read more
New corporate residency test: Board of Taxation releases report
The Board of Taxation released its report Review of Corporate Tax Residency on 6 October 2020. The report was completed in July 2020.
Read more
Budget: Super trustees – new best “financial” interests duty
The Government has announced that it will legislate to compel trustees of APRA-regulated superannuation funds to act in the best “financial” interests of their members.
Read more
2020-21 Federal Budget: “all about jobs” plus record deficit, big spending, backdated tax cuts and more
On Tuesday, 6 October 2020, Treasurer Josh Frydenberg handed down the 2020-21 Federal Budget, his second Budget.
Read more
Pre-Budget business tax concessions announced
Ahead of the 2020-21 Federal Budget, the Government has announced a range of new tax concessions for small and medium sized businesses.
Read more