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Following on from the ATO’s guide to professional services firms’ allocation of profits in PCG 2021/4, the ATO has now further tightened its compliance scrutiny of individual professionals’ ability to assign or stream income away from themselves to family members by releasing its compliance approach to so-called Everett assignments.

The ATO released its June 2022 final Legal Professional Privilege (LPP) Protocol setting out the ATO's recommended approach for taxpayers to identify LPP communications and making LPP claims to the ATO in response to a formal notice to produce documents.

The Australian Labor Party (Labor) today announced that, if elected, it will seek to introduce measures to "close tax loopholes exploited by multinational companies".

In the March 2022 Federal Budget, the Government announced two support measures for small businesses (turnover under $50m) in the form of a 20 per cent uplift of the amount deductible for expenditure incurred on external training courses and digital technology

Income Tax Assessment Amendment (Digital Games Tax Offset) Bill 2021: Measure for Consultation

The Federal Government introduced the much anticipated “patent box regime” rules into Parliament on 10 February 2022, as announced in the Federal Budget 2021-22.

Released on 16 December 2021, the ATO has finally released its final Practical Compliance Guideline PCG 2021/4 for the allocation of professional firm profits.

Small businesses should know the Australian Tax Office has started to chase unpaid tax debts again in Victoria, NSW and the ACT as the three jurisdictions emerge from COVID-19 lockdowns.

The ATO has published the long awaited draft revision of the Practical Compliance Guideline PCG 2021/D2 for the allocation of profits by professional firms.

The United States national election is over, and while we await ratification of the results and inauguration of the new President, focus must now turn to the likely tax policies of the Administration of President Elect Joe Biden.

On 15 September 2020 the Federal Treasurer Josh Frydenberg released the Coronavirus Economic Response Package (Payments and Benefits) Amendment Rules (No. 8) 2020 (and Explanatory Statement).

As many employers still await further details about whether they will qualify for JobKeeper, the ATO Commissioner has extended the time to make payments for the first two fortnights (i.e. 30 March – 12 April and 13 April – 26 April).