The Court has ruled that the proceeds of a block of land were not assessable income in a recent decision involving a multi-million-dollar development.
The Administrative Review Tribunal has upheld a decision by the TPB to reject a former tax agent’s request for registration as a tax agent.
The $1,000 instant deduction could see taxpayers miss out on critical conversations with their accountant, exposing them to potential tax issues in the future, accounting bodies have warned.
Without proper planning, construction businesses can find themselves frustrated by cash flow issues when tax time comes around, RSM said.
Labor and the Coalition have announced competing measures to provide tax deductions for cost-of-living relief and first home buyers.
Poorly executed communications by the ATO in recent months has confused taxpayers and created extra work for tax practitioners, the professional body has said.
Twenty business groups have called on the government to support businesses in driving economic growth and improving living standards.
It is crucial to understand all elements of the small business CGT concessions to avoid any negative outcomes for clients, a tax adviser has cautioned.
The removal of the ability to claim deductions for ATO interest charges and an increase in the Super Guarantee on 1 July will place further pressure on cash flow, SME lenders have warned.
An unregistered tax preparer has received a 12-month jail sentence after breaching a permanent injunction ordered by the court.
The ATO is reminding businesses to keep detailed records of any R&D activities and expenditures they plan to claim.
Property taxation is the greatest factor hampering housing supply in regional Victoria, according to the Real Estate Institute of Victoria.
