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.
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SME Recovery Scheme
The Government’s SME Recovery Loan Scheme (the Scheme) is designed to support the economic recovery and provide continued assistance to SMEs dealing with the economic …
What Happens To Your Superannuation When You Die?
Superannuation is not like other assets as it is held in trust by the trustee of the superannuation fund. When you die, it does not …
Unwinding Covid Relief
Covid-19 support will roll back as states and territories reach vaccination targets. The National Plan, the road map out of COVID-19, does more than provide …
ATO’s taxable payments reporting system update
The ATO has confirmed that more than 60,000 businesses have not yet complied with lodgement requirements under the taxable payments reporting system (‘TPRS’) for 2019/20. …
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 …
Rent or lease payment changes due to COVID-19
The ATO has provided updates regarding the tax implications when a landlord gives, or a tenant receives, rent concessions (such as waivers or deferrals of …
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 …
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 …
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. …
