This year’s Budget was dominated by spending measures directed toward social programs, with only a few, very specific, tax changes.
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ATO Posts
Downsizer in-specie contributions confirmed by ATO
The ATO has confirmed to the SMSF Association that an individual can make a downsizer super contribution as an in-specie (ie non-cash) contribution, provided that the other eligibility criteria are satisfied.
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Professional bodies respond to allocation of profits draft guidelines
The professional bodies have released their joint submission to the ATO’s Draft Practical Compliance Guideline PCG 2021/D2.
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Are spreadsheets hindering your indirect tax processes?
Spreadsheets have their place, there’s no doubt about that. But the way they’re being used in the indirect tax world right now is a cause for concern.
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Practical compliance guidelines for employee travel: Practically perfect?
This article considers whether the ATO’s Practical compliance guideline for employee travel is the silver bullet employers were seeking.
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Release authorities and SMSF Rollovers: ATO instrument released
The ATO released the Superannuation Data and Payment Standards (Release Authorities, and SMSF Rollovers) Amendment 2021 on 29 March 2021.
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Voluntary JobKeeper repayments – deductible? The ATO response
In response to the decision by some prominent Australian businesses to return their JobKeeper payments, the ATO says that a voluntary repayment will be deductible “in limited circumstances”.
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Decision in asset betterment case sent back to AAT: Le v FCT
The Federal Court has held that the AAT should hear again a case involving assets betterment assessments.
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Moving away from spreadsheets: 3 ways to automate your tax process
Keep using spreadsheets? Sure, they have their place, but it’s more for certain types of tasks, not necessarily for everything that you’re trying to do.
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ATO data-matching for motor vehicle registrations
The ATO has gazetted a Notice which will enable it to acquire motor vehicle registry data from State and Territory motor vehicle registry authorities for the period 2019-20 to 2021-22.
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