Beacon Business Accountants are Business and Property Tax Specialists, and Accounting Advisors.

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Relevant Accounting News

We’re here to help with a collection of accounting news sites, associations, and organizations that can help you keep up in the ever-changing world of accounting.

Category: Tax

Passenger movement data-matching program. The ATO will access data from the Department of Home Affairs on passenger movements during the 2016/17 to 2022/23 financial years

Passenger movement data-matching program

The ATO will access data from the Department of Home Affairs on passenger movements during the 2016/17 to 2022/23 financial years, and match it with certain sections of ATO data holdings to identify taxpayers that can be provided with tailored information to help them meet their tax and superannuation obligations,

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New ATO data-matching programs involving property. The ATO has advised that it will engage in two new data matching programs dealing with property transactions, as outlined below:

New ATO data matching programs involving property

The ATO has advised that it will engage in two new data matching programs dealing with property transactions, as outlined below: The ATO will acquire property management data from property management software providers for the 2018/19 through to 2022/23 financial years (relating to approximately 1.6 million individuals); andThe ATO will

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The ATO has updated the luxury car tax thresholds for the 2021/22 financial year.

Luxury car tax threshold

The ATO has updated the luxury car tax (‘LCT’) thresholds for the 2021/22 financial year. The LCT threshold for fuel efficient vehicles in 2021/22 is $79,659 (up from $77,565 in 2020/21) and the LCT threshold for other vehicles in 2021/22 is $69,152 (up from $68,740 in 2020/21). Editor: Note that

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Cryptocurrency, the ATO is concerned that many taxpayers believe their cryptocurrency gains are tax-free, or only taxable when the holdings are cashed back into Australian dollars.

Cryptocurrency under the microscope this tax time

The ATO is concerned that many taxpayers believe their cryptocurrency gains are tax-free, or only taxable when the holdings are cashed back into Australian dollars. ATO data analysis shows a dramatic increase in trading since the beginning of 2020, and has estimated that there are over 600,000 taxpayers that have

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2022 Financial Year, another financial year has come and gone. It certainly has been a tumultuous twelve months with Covid, Jobkeeper, lockdowns and vaccine rollouts!

2022 Financial Year in full swing.

Another financial year has come and gone. It certainly has been a tumultuous twelve months with Covid, Jobkeeper, lockdowns and vaccine rollouts! With Jobkeeper and other government assistance having now ceased, business is left to stand on its own. From what I have seen most have made it through relatively

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