Accountants Daily - News and analysis for accounting professionals
WEBNewsletter. Receive breaking news directly to your inbox each day. "Greetings Darren (aka dmill). Thanks for your engagement on this topic. If the Coalition was really... Accountants Daily delivers daily breaking news, analysis and insight to …
ATO flags critical considerations with family trust elections
WEBFamily trust distribution tax (FTDT) is a special, 47 per cent, tax payable by a trustee, director or partner. It applies when a trust has made a family trust election (FTE), or an entity has made an interposed entity election (IEE), and makes a distribution outside the family group of the specified individual in the election. “Family trust ...
Main residence exemption myths and misconceptions
WEBWhen it comes to taxation, the family home is sacred. It is often the largest asset a taxpayer will own, and we all know that the family home is exempt from capital gains tax (CGT).This perception has caused many governments to remain gun shy about making changes that would lessen the generous concession available to homeowners; the main residence exemption (MRE).
ATO gives taxpayers green light to lodge returns
WEBSelf-preparers would need to lodge their returns by 31 October. The deadline was extended to mid-May 2025 for taxpayers using a tax agent, but the ATO advised them to contact their agent before 31 October. The ATO also reminded taxpayers that while many would be expecting to receive money back, refunds were typically the result of excess tax ...
Insight - Accountants Daily
WEBEVENTS AND SUMMITS. Accountants Daily 30 Under 30 Awards. Adviser Innovation Summit. Australian Accounting Awards. Australian Aviation Awards. Australian Broking Awards. Australian Defence Industry Awards. Australian Law …
ACE24 Accounting Conference Expo - Home - Accountants Daily
WEBThe ACE24 Accounting Conference and Exhibition brought accounting professionals and specialist experts from across the industry together for a comprehensive one-day conference. The accounting sector is in a significant period of transition as it adapts to a raft of regulatory changes, shifting client demands and technological advancements.
Why accountants are happier than you think
WEBMay 31, 2024 · Financial wellbeing emerges as another significant player in the happiness equation. Although, Accountants were slightly less optimistic about their financial health than their mental health, as 21% felt that their financial security had deteriorated recently – likely fuelled by cost of living and inflationary pressures.
ATO expands guidance on promoter penalty laws after new …
WEBAug 22, 2024 · The ATO has expanded its guidance on how it applies the promoter penalty laws in PS LA 2021/1 after the Tax Accountability and Fairness Act 2024 was passed back in May this year.. The Treasury Laws Amendment (Tax accountability and fairness) Bill was introduced into Parliament as part of the government’s reform response to the PwC matter.
Three ways to solve all your s100A problems - Accountants Daily
WEBGo green. The second way to stop the ATO attacking a trust arrangement (on its face) under s100A is to keep arrangements within the green zone scenarios as discussed in the ATO documents. Basically, this is the “swim between the flags” method.
ATO to sool debt collector on 150,000 taxpayers - Accountants Daily
WEBRecoveriescorp has been engaged by the Tax Office in its first use of a collection agency since the pandemic. The ATO will refer up to 150,000 taxpayers to a debt collection agency before the end of June in “decisive and swift” action to recover millions owed by those “with the capacity to pay”. In its first post-pandemic use of an ...
Skip to content