Board of Taxation’s Initial Report on Income Tax Residency Rules for Individuals

The Board of Taxation has released its initial report on income tax residency rules for individuals, recommending a two-step model to be introduced as a simplified residency test. In response, the government has asked the Board to further consult on the proposed measure. In its self-initiated review, the Board considered: • whether the existing Australian individual income […]

ATO website updates: July 09, 2018

Here is the latest ATO updates as of July 09, 2018. • Secure and private information – Webpage on information the ATO collects and related issues including privacy and disclosure. In order to administer tax and superannuation laws, we collect information about you. We may get this information from you or from other parties, such as: your […]

ATO website updates — July 06, 2018

• Does your business buy or sell cryptocurrency? — Updated web guidance available for the tax treatment of cryptocurrencies. We have updated our web guidance to help you to comply with your tax obligations. We have recently updated to include additional information on the tax treatment of cryptocurrencies. The updated web content includes new guidance on: loss or […]

ATO website updates — July 05, 2018

• Energy and Resources Working Group minutes 22 March 2018 — Minutes from the Energy and Resources Working Group meeting held 22 March 2018. • Removing the capital gains discount at the trust level for Managed Investment Trusts and Attribution MITs — Details of the measure which will apply to payments made from 1 July 2019. • GDP adjusted PAYG […]