ATO advice suggests that a part disposal of a person’s home can be eligible for making a superannuation downsizer contribution under s 292-102 of ITAA 1997.
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ATO Posts
GST SARs: ATO’s new GST Governance, Data Testing and Transaction Testing Guide
On 15 July 2020, the Australian Taxation Office (ATO) published the GST Governance, Data Testing and Transaction Testing Guide.
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ATO compliance approach to trust liquidity issues due to COVID-19
The ATO has advised that it will not undertake compliance action to consider the validity of a beneficiary’s entitlement, or the application of s 100A of the ITAA 1936, where a trustee is affected by liquidity issues due to COVID-19 and unable to satisfy a beneficiary’s entitlement.
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JobKeeper amendments to turnover test and employment start date
The Prime Minister announced further changes to JobKeeper on 7 August 2020.
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What does the future hold for tax and super post-COVID-19?
The future of the economy post-pandemic? It’s in the hands of our tax system and superannuation regime. But are they up to it?
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Treasurer flags record $184.5bn Budget deficit
The Treasurer, Josh Frydenberg has released an Economic and Fiscal Update July 2020, forecasting an underlying cash Budget deficit of $85.8bn for 2019-20, rising to $184.5bn for 2020-21 (or 9.7% of GDP).
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JobKeeper extended with cuts and tests ahead
The Government has announced that JobKeeper payments will continue for 6 months beyond its legislated finish date of 27 September 2020, subject to revamped eligibility rules.
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Tax Q&A Forum: Your questions answered by the country’s leading tax experts
Get your questions answered by the country’s leading tax experts.
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JobKeeper changes ahead: Bookkeepers in the eye of the COVID-19 storm
“We’re breathing at the moment,” said Matthew Addison, Executive Chairman of the Institute of Certified Bookkeepers (ICB) of the lull before the next tax policy storm.
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Div 7A and COVID-19 affected borrowers: ATO 12-month payment extension
The ATO has granted a 12-month payment extension for COVID-19 affected borrowers concerning the requirement to make the minimum yearly repayment for Div 7A purposes.
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