Claiming work-related expenses– ATO education campaign to help correctly claim work-related expenses using its guides and toolkits.
ATO data analytics and prefilling– a closer look at the methods that help to process tax returns and correct mistakes.
Standard deductions and “push returns”– The Parliamentary Standing Committee on Tax and Revenue’s report on taxpayer engagement with the tax system recommends transitioning towards a standard tax deduction and a “push return” tax system.
Illegal phoenix activity– public examinations of more than 45 entities have commenced in the Federal Court.
Banking Royal Commission sets out possible super contraventions– closing submissions on super entities set out the relevant evidence in relation to the 17 entities examined.
Instant asset write-off extension– a Bill has been passed to extend the small business $20,000 instant asset write-off threshold for another 12 months.
SMSF Association Technical Day speech– ATO Assistant Commissioners’ update on SMSF issues and practical considerations.
Cryptocurrency tax treatment– the ATO has updated its tax guidelines for cryptocurrency transactions.
The ATO as SMSF regulator– observations from the ATO Deputy Commissioner, Superannuation, at the National SMSF Conference in Melbourne.
