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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ATO Posts
JobKeeper amendments to turnover test and employment start date
The Prime Minister announced further changes to JobKeeper on 7 August 2020.
Read moreWhat 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?
Read moreTreasurer 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).
Read moreJobKeeper 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.
Read moreTax Q&A Forum: Your questions answered by the country’s leading tax experts
Get your questions answered by the country’s leading tax experts.
Read moreJobKeeper 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.
Read moreDiv 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.
Read moreCourt of Criminal Appeal Quashes Tax Crime Convictions After Crown’s Creative Accounting
Why did this tax criminal case ultimately fail? Find out – along with what the outcome of the case has revealed about tax intricate accounting practices – here.
Read moreWebinar: Tax Time without a Budget
Be guided by the experts: Tony Greco, IPA and Ian Murray-Jones, Thomson Reuters » Watch on demand Until recently one thing was for certain … COVID-19’s shroud over the nation…
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