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The Client Alert October / November 2024
Wednesday, October 2, 2024
Tax consequences of sharing your home Homeowners can share their homes in a range of ways – you might have an agreement to rent out a room, offer short stays through a platform like Airbnb, accept money from a friend who sometimes needs a bed, or receive board payments from family members. Some of these […]
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The Client Alert August/September 2024
Friday, July 26, 2024
Regulations coming for “buy now, pay later” market In recent years, the financial landscape in Australia has been significantly transformed by the advent of buy now, pay later (BNPL) services. These innovative credit products have provided consumers with a convenient and often cheaper alternative to traditional credit forms such as credit cards, small amount credit […]
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The Client Alert June/July 2024
Friday, June 7, 2024
Get ready for tax time 2024 The end of the financial year is fast approaching and with that, tax time 2024 is kicking into gear. As it has in previous years, the ATO has recently flagged some primary areas where taxpayers frequently make mistakes on their tax returns. “These are the areas that people are […]
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The Budget 2024
Thursday, May 16, 2024
PERSONAL TAXATION Personal tax rates: Stage 3 (as revised) confirmed from 2024–2025 In the 2024–2025 Federal Budget, the Government did not announce any further changes to the personal tax rates. The Government’s revised Stage 3 tax changes (as announced on 25 January 2024 and enacted into law by the Treasury Laws Amendment (Cost of Living […]
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The Client Alert April / May 2024
Friday, April 26, 2024
Reactivating old debts: new guidelines for government agencies In response to the ATO’s recent actions on reactivating or offsetting old tax debts, the Commonwealth Ombudsman/ACT Ombudsman and the Inspector-General of Taxation and Taxation Ombudsman (IGTO) have jointly issued new guidelines aimed at improving how Australians are notified about debts they owe to the government. The […]
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The Client Alert February / March 2024
Wednesday, March 6, 2024
ASIC’s new alert list offers guidance on suspicious investment “opportunities” As a part of the government strategy to target investment scams, ASIC and the Australian Competition and Consumer Commission (ACCC) – through the newly formed National Anti-Scam Centre – have published an investor alert list which may help consumers to identify whether entities they are […]
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The Client Alert
Wednesday, December 13, 2023
ASIC’s new alert list offers guidance on suspicious investment “opportunities” As a part of the government strategy to target investment scams, ASIC and the Australian Competition and Consumer Commission (ACCC) – through the newly formed National Anti-Scam Centre – have published an investor alert list which may help consumers to identify whether entities they are […]
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The Client Alert – October/ November
Wednesday, October 4, 2023
ASIC calls on lenders to support customers With the cost of living crisis and increase in interest rates hitting Australian households, there is growing evidence that many are falling into financial stress. It is with this background that the Australian Securities and Investments Commission (ASIC) has issued an open letter to various banks, credit institutions, […]
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The Client Alert August / September 2023
Monday, August 14, 2023
ATO motor vehicle data matching program extended The ATO has extended its motor vehicles data matching program once again to encompass the 2022–2023 to 2024–2025 financial years. For each financial year, the ATO will acquire information from all eight of the state and territory motor registries regarding where a vehicle has been transferred or newly […]
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The Budget 2023
Friday, June 9, 2023
PERSONAL TAXATION Personal tax rates unchanged for 2023–2024 In the Budget, the Government did not announce any personal tax rates changes. The Stage 3 tax changes commence from 1 July 2024, as previously legislated. The 2023–2024 tax rates and income thresholds for residents (unchanged since 2021–2022) are: taxable income up to $18,200 – nil; taxable […]
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