Capitaleyes Latest Accounting News

Be wary of trust disclaimers, ATO warns

Beneficiaries are urged to understand the tax effect of entitlements in the wake of a recent High Court decision.
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Single Touch Payroll: Phase 2 deferral reminder

First update was in January 2022, now phase 2.
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Tax time tips

The more detail you can give your accountant the quicker your tax return can be processed and, usually, the better the outcome. The following will help.
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Tax Time Checklists – 2022 Individuals; Company; Trust; Partnership; and Super Funds

  Working from home because of COVID-19 means most will have more deductions than in a normal year. These checklists will help your tax agent ensure you don't miss any deductions. Simply print, complete and return. Please click on the following links to access the checklists most appropriate to your needs. Individuals Company Trust Partnership Superannuation […]
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100A ruling turns tax avoidance logic on its head

The ATO’s 100A draft ruling on trusts has turned the logic of “tax avoidance” on its head and may be fundamentally flawed, according to tax law specialist Ron Jorgensen.
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100A ruling ‘turns tax avoidance logic on its head’

The ATO’s 100A draft ruling on trusts has turned the logic of “tax avoidance” on its head and may be fundamentally flawed, according to tax law specialist Ron Jorgensen.
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Inflation will force a third of businesses to raise prices

More than a third of businesses expect to impose larger-than-usual price rises in the next three months, the latest Australian Bureau of Statistics data found.
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Forget the Tim Tams in your WFH claim, say fun police

Humour has become the weapon of choice for CPA Australia when it comes to raising awareness of accountants at tax time.
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Forget the Tim Tams in your WFH claim, say ‘fun police’

Humour has become the weapon of choice for CPA Australia when it comes to raising awareness of accountants at tax time.
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ATO zeroes in on work expenses, crypto investments

The Tax Office has revealed its priority areas for this year’s returns.
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ATO and non-commercial loses

The ATO understands the past few years have been difficult, with floods, bushfires, and COVID-19 affecting many businesses. The ATO wants to help make it easier for businesses impacted by these events, and so have developed a practical compliance guideline (PCG) that may assist. The ATO develops PCGs to address the practical implications of tax laws and outline our administrative approach.
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About the cash flow forecasting template

A cash flow forecast is the most important business tool for every business.
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Phone: 02 9568 5555
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