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Australians hit with biggest income tax increase in OECD

A 7.6 per cent spike in 2022-23, brought on by bracket creep and the end of the LMITO, has affected low- and middle-income earners the most.

Adviser-new-broker-academy , New-broker-academy ,

AAT upholds ATO decision on self-education expenses

The tribunal has dismissed an appeal relating to self-education expenses claimed as deductions by a dental technician.

Adviser-new-broker-academy , New-broker-academy ,

ATO issues alert to SMSFs on crypto scams and losses

The Tax Office is seeing instances of funds reporting losses with crypto investments due to scams and collapsed trading platforms.

Adviser-new-broker-academy , New-broker-academy ,

CGT, negative gearing reform could save $60bn, analysis finds

Modelling for proposals to dial back property tax concessions finds billions could be freed up every year to address the housing crisis.

Adviser-new-broker-academy , New-broker-academy ,

'Read the deed' heuristic matters; particularly to the Family Court

A recent decision has shed further light on how the Family Court approaches issues concerning discretionary trusts.

Adviser-new-broker-academy , New-broker-academy ,

Government shirks big 4, senator calls for government consulting revamp

Senator Barbara Pocock has called for reforms to government consulting engagements as the Department of Finance continues to review PwC's government contracts.

Adviser-new-broker-academy , New-broker-academy ,

ATO compliance hotspots for tax time 2024

Tax professionals and their clients should pay careful attention to areas such as record-keeping, rental property deductions, the share economy and capital gains from crypto assets.

Adviser-new-broker-academy , New-broker-academy ,

ATO 'underestimated' impact of Peter Collins licensing decision: Hirschhorn

The Second Commissioner told the Inquiry into Consulting he regrets not escalating the PwC matter more rapidly given the dramatic impact the TPB’s decision had.

Adviser-new-broker-academy , New-broker-academy ,

ATO takes 'stringent' stance on GIC remissions as part of debt clampdown

Tax agents have been told to readjust their expectations around payment plans and penalty remissions as the ATO toughens its approach on tax debts.

Adviser-new-broker-academy , New-broker-academy ,

CPA Australia axed 121 staff, services for internal revamp: report

The body’s latest integrated report shows it cut nearly one-fifth of its workforce in 2023, double what was originally planned, eroding staff and member satisfaction.

Adviser-new-broker-academy , New-broker-academy ,