How good is ChatGPT at tax?
Let’s start by saying that we were impressed. Not so much by ChatGPT’s ability to work with the complexities of the tax system, but for its tone and approach. The [...]
Australian super funds gorge on cryptocurrency
The value of cryptocurrency assets inside Australian self managed superannuation funds (SMSFs) increased by 589.9% ($1.17bn) between June 2019 and June 2022, according to the latest ATO statistics. While cryptocurrency [...]
Tax treatment of JobKeeper payments handed back to ATO
The ATO has clarified the tax treatment of JobKeeper payments handed back to the Government. The clarification comes after the Super Retail Group, Dominos Pizza and Toyota collectively returned more [...]
Proposed Changes to Research and Development Tax Incentive
A proposal to change the R&D tax incentive from July 1 2018 was proposed in the recent Federal Budget. The changes are as follows: For companies under $20M If you [...]
Data Matching Programs to Commence between the ATO and Online Accommodation Platforms
The Commissioner on Taxation has released an announcement. A data matching program between the Australian Taxation Office (ATO) and online accommodation platforms will commence soon. All information (including bank account [...]
Directors may be liable for GST
The treasury has released a draft legislation that may make a company director personally liable for Goods and Services Tax (GST). The Commissioner of Taxation may receive powers of making [...]
GST on Property Developments: The Big Changes for Developers and Purchasers
If a Bill currently before Parliament passes, from 1 July 2018, purchasers of new residential premises or new residential subdivisions will need to remit the GST on the purchase price [...]