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Reimbursement Arrangements – The ATO’s parting gift for the year

In the season of getting matters dealt with before the end of the year, the ATO have released its finalised guidance on trust reimbursement agreements with the release of Taxation Ruling TR 2022/4 and the companion product Practical Compliance Guideline PCG 2022/2.

The changing approach of the ATO

The ATO’s profile and approach to dealing with taxpayers is ever-changing, how the ATO interacts and the methods it uses are also ever changing as noted in its Annual Report. Some of the key observations available from the ATO’s annual report which will affect large taxpayers including large corporates and multinationals include the following three areas.

Medico Payroll Tax Ruling

Revenue NSW has shone a spotlight on payroll tax implications for medico’s and other similarly structures professional practices due to a NSW Civil and Administrative Tribunal (NCAT) decision which has been confirmed on appeal. The result of this appeal is set to be reflected in the audit practice of the relevant office’s of state revenue.

OECD releases detailed guidance on “Pillar Two” rules

The taxation pressure on Multinational Enterprises (MNEs) continues with the OECD has releasing technical guidance to assist countries to implement the second phase of the reform of the international tax rules, better known as Pillar Two.

The Not So Black & White Nature of Cryptocurrency

As popularity in Cryptocurrency grows, tax implications start to come out of the shadows and can create real life problems for those investing. With the ATO monitoring cryptocurrency investing closely, ATO warnings have gone out to those holding crypto so they become aware of possible tax complications.

New car parking FBT changes announced

The latest Taxation Ruling (“TR”) 2021/2 released by the ATO on 16 June 2021 sets out the Commissioner’s view on when the provision of car parking is a ‘car parking benefit’ for the purposes of the Fringe Benefits Tax Assessment Act 1986.

2021 Budget White Paper

Treasurer Josh Frydenberg has handed down his second Covid Budget continuing the position adopted in his original Budget. The Coalition Government has continued to spend money at the expense of the Budget deficit, on the basis that continued spending is required to ensure that the economic recovery is maintained.

What may feature in the 2021 Federal Budget?

Next Tuesday evening the 2021 Federal Budget will be handed down by Treasurer, Josh Frydenberg. The Government have already been out and about spruiking some new initiatives and reminding us of previous announcements that are now imminent.

Are you ‘Payroll Tax audit ready’?

With the introduction of the JobKeeper scheme in 2020 and the commencement of Single Touch Payroll in 2018, businesses employing Australians are required to provide the Australian Taxation Office [“ATO”], with endless amounts of information.

FBT + Covid-19 + cars = changes!

The ATO has recently released guidance regarding the impact of COVID-19 on Car Fringe Benefits which may assist employers in mitigating FBT liabilities. Generally, Car Fringe Benefit will arise where an employer makes a car available for the private use of an employee.

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Reimbursement Arrangements – The ATO’s parting gift for the year

The changing approach of the ATO

Medico Payroll Tax Ruling

OECD releases detailed guidance on “Pillar Two” rules

The Not So Black & White Nature of Cryptocurrency

New car parking FBT changes announced

2021 Budget White Paper

What may feature in the 2021 Federal Budget?

Are you ‘Payroll Tax audit ready’?

FBT + Covid-19 + cars = changes!

Why us

What we do

Who do we help

Work with us

What we think

ESV Gives

Contact us

Taxation

Topic filters

Reimbursement Arrangements – The ATO’s parting gift for the year

The changing approach of the ATO

Medico Payroll Tax Ruling

OECD releases detailed guidance on “Pillar Two” rules

The Not So Black & White Nature of Cryptocurrency

New car parking FBT changes announced

2021 Budget White Paper

What may feature in the 2021 Federal Budget?

Are you ‘Payroll Tax audit ready’?

FBT + Covid-19 + cars = changes!

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