Accountancy & Business Insights

Keep your finger on the pulse with our accountancy & business insights.

ATO guidance on employee vs contractor debate updated Updated ATO guidance means you need to understand whether your contract for services are to an employee or an independent contractor. Getting it right can save you significant hassle

Anthony Pratt 3/2/24 Anthony Pratt 3/2/24

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Tax deductions to be denied for interest charged by the ATO The Federal Government announced in the 2024 Mid-Year Economic and Fiscal Outlook (MYEFO) that amendments will be introduced to deny deductions for ATO interest charges, incurre

Anthony Pratt 30/1/24 Anthony Pratt 30/1/24

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Get insight into recent tax developments, measures and announcements, and more. Special Edition Business Insights Magazine As changes occur, we’ll keep you posted through prattpartners social media accounts. 🖇 Partner with a firm th

Anthony Pratt 27/1/24 Anthony Pratt 27/1/24

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Changes to personal tax rates announced The Labor Government has announced changes to personal tax rates that will provide a tax cut for every Australian taxpayer commencing from 1 July 2024. The federal government has announced an ov

Anthony Pratt 27/1/24 Anthony Pratt 27/1/24

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R&D tax incentive claims ATO flags questionable arrangements The ATO has released 2 taxpayer alerts flagging incorrect R&D tax offset claims where expenditure is incurred by associated entities or activities are conducted over

Anthony Pratt 25/1/24 Anthony Pratt 25/1/24

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Proposed changes for DGR status and charitable giving rules The Federal Government released a draft report that proposes policy reforms to incentivise philanthropy and increase outcomes for donors, charities and taxpayers. Several refo

Anthony Pratt 24/1/24 Anthony Pratt 24/1/24

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Download Our December Edition Business Insights Magazine. Get insight into recent tax developments, measures and announcements, and more. December Edition Business Insights Magazine As changes occur, we’ll keep you posted through pra

Anthony Pratt 9/12/23 Anthony Pratt 9/12/23

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Happy Christmas Happy Christmas to our valued clients. We wish you health, happiness, and new beginnings for the year ahead. We wish you a very happy Christmas and well deserved end-of-year break. We are grateful for the opportunity to

Anthony Pratt 8/12/23 Anthony Pratt 8/12/23

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Your upcoming tax calendar for December and January It’s that time of the year again, as we approach the end of 2023, please remember to organise your tax obligations this holiday season. Below are the key compliance dates coming up. If

Anthony Pratt 6/12/23 Anthony Pratt 6/12/23

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Safe harbour for applying prior year deferred losses extended PCG 2022/1 allows a safe harbour for taxpayers to apply prior year non-commercial loses to reduce other assessable income, otherwise prevented by div 35 of ITAA 1997. As per

Anthony Pratt 6/12/23 Anthony Pratt 6/12/23

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Top 500 and Next 5,000 Report ATO reviews largest private groups One of the main ways the ATO engages and reviews the largest private groups is through its Top 500 or Next 5,000 program. In that context, the ATO has released its repor

Anthony Pratt 6/12/23 Anthony Pratt 6/12/23

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Rules and entitlements during the end-of-year holiday season The rules on entitlements for public holidays, shutdowns and leave provisions can be confusing. Has your business got a plan for staff annual leave and public holidays? We can

Anthony Pratt 6/12/23 Anthony Pratt 6/12/23

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Payroll tax updates for medical practices Given the high risk of payroll tax audits across the medical and allied health industry, organisations must understand and adapt to the changing payroll tax landscape. Revenue authorities in Que

Anthony Pratt 6/12/23 Anthony Pratt 6/12/23

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Update on the removal of tax concessions for large superannuation balances The federal government has announced its intention to change tax concessional treatment of very large super account balances from 1 July 2025. Individuals with ov

Anthony Pratt 29/11/23 Anthony Pratt 29/11/23

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Age limit changes for downsizer super contributions The age limits for downsizer contributions to super have been reduced. The downsizer contribution rules allow you to put an extra $300,000 (from the proceeds of selling your home) into

Anthony Pratt 27/11/23 Anthony Pratt 27/11/23

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ATO scrutiny on family trust and s.100A arrangements The ATO has finalised a major tax ruling about when distributions from family trusts may be caught by anti-avoidance tax laws. Make sure you are doing the right thing now and in the f

Anthony Pratt 26/11/23 Anthony Pratt 26/11/23

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