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Federal Budget 2023/24
- 11 May 2023
- Posted by: GJ North
- Category: Government
No CommentsThe 2023/24 Australian Federal Budget is an important topic for all Australians, as it outlines the government’s plans and priorities for spending and revenue collection over the next financial year.
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2023/24 Federal Budget (NTAA)
- 10 May 2023
- Posted by: GJ North
- Category: Government
The Australian Federal Government has announced the 2023/24 Federal Budget. The National Tax and Accountants’ Association (NTAA) have put together a summary and a video of the upcoming budget.
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ATO targeting private not-for-profit schemes
- 13 March 2023
- Posted by: GJ North
- Category: Government
As a part of its ever-tightening compliance net, the ATO has recently announced it is targeting specific tax avoidance behaviour in the not-for-profits sector.
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Administrative Appeals Tribunal to be replaced
- 29 January 2023
- Posted by: GJ North
- Category: Government
The Federal Government has announced that it will abolish the Administrative Appeals Tribunal (AAT) and replace it with a new Federal administrative review body. According to Attorney-General the Hon Mark Dreyfus, the AAT’s dysfunction has had a very real cost to the tens of thousands of people who rely on it each year to independently review government-body decisions. A dedicated taskforce within the Attorney-General’s department has been formed, and stakeholder consultation will be held on the design of the new body.
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Sharing economy reporting regime commences soon
- 29 January 2023
- Posted by: GJ North
- Category: Government
As a part of the Federal Government’s strategy to combat the tax compliance risks posed by the sharing economy, it has passed into law new requirements for operators of electronic distribution platforms to provide information to the ATO on transactions made through their platforms.
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ABN registration: draft legislation to enforce lodgement and notification compliance
- 17 December 2022
- Posted by: GJ North
- Category: Government
Treasury has released draft legislation which proposes two new grounds under which the Registrar of the Australian Business Register may cancel an Australian Business Number (ABN).
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NSW first home buyers: choice of tax
- 17 December 2022
- Posted by: GJ North
- Category: Government
In a bid to encourage home ownership in NSW, the state government has introduced the First Home Buyer Choice scheme, which allows eligible first home buyers a choice between paying an annual property tax or the traditional stamp duty.
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The Australian Federal Budget (October 2022)
- 25 October 2022
- Posted by: GJ North
- Category: Government
The Australian Government released the Federal Budget in October 2022 and these are the key announcements highlighted are Personal Taxation, Business Taxation, Superannuation, and Housing Measures.
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ASIC’s focus on super complaints handling
- 19 October 2022
- Posted by: GJ North
- Category: Government
The Australian Securities and Investments Commission (ASIC) is the body responsible for overseeing the operation of Australia’s financial services dispute resolution framework, including the internal dispute resolution (IDR) systems of superannuation trustees and other financial firms. Together with the Australian Financial Complaints Authority (AFCA), it forms the key consumer protection mechanism to ensure all complaints are resolved in a fair and timely manner.
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Sale of principal home: extension of exemption
- 19 October 2022
- Posted by: GJ North
- Category: Government
In a bid to support pensioners and in conjunction with the announcement of its intention to reduce the eligibility age for downsizer super contributions, the government has introduced a measure to extend the existing assets test exemption under social security for principal home sale proceeds which a person intends to use to purchase a new principal home.