Key points ATO resumes using Recoveriescorp to pursue unpaid tax debts from 29 January 2024. No extra penalties apply; payment plans are managed by Recoveriescorp. Recoveriescorp has limited ATO access and follows strict privacy protocols The ATO are recommencing the use of an external debt collection agency for overdue tax debts. From 29 January 2024, […]
The ATO has issued an interim decision impact statement following the AAT’s decision in Bendel v FCT, currently on appeal to the Federal Court.
The new tax is still subject to legislative passage with a stated commencement of 1 July 2025. It will mean a tax of 15% to the proportion of ‘earnings’ above $3m at the end of a financial year. For individuals with large super balances it’s wise to start considering management strategies
The draft legislation introducing significant Victorian property tax changes was amended within the last week to introduce further changes. Read about these here.
Key points ATO cautions businesses with large tax debts or unpaid super obligations. Non-compliance may lead to credit reporting agency disclosures. Prompt settlement is urged to avoid reputational and financial damage. The Australian Taxation Office (ATO) has issued a caution to businesses carrying substantial tax debt or those that have neglected their superannuation responsibilities, instructing […]
The Victorian Treasurer unexpectedly announced further significant changes for Victorian property taxes on 3 October 2023, after already introducing significant changes in May 2023 when the Victorian State Budget for 2023-24 was handed down. In this article, we explain what the changes are, what the changes could mean for you, and what you may need to do in light of the changes, many of which are proposed to start in just over 2 months.
In recent months, the Australian Taxation Office (ATO) has significantly intensified its efforts in debt recovery. Consequently, an increasing number of small businesses owners are now being issued Directors Penalty Notices (DPNs) and are forced to contemplate the possibility of seeking insolvency guidance.
In this article, we explain the key duty and land tax changes proposed in the NSW budget which are set out in the Treasury and Revenue Legislation Amendment Bill (‘the Bill’) and discuss what taxpayers can do to prepare for the changes.
Planning reform, a tax shakeup and incentives for developers are needed to revive apartment development and ease Victoria’s rental crisis, according to property experts at Pitcher Partners. Severe shortages of apartments in Victoria are heaping pressure on affordability, with rental values rising 17.7 per cent year on year to reach $526 per week, according to […]
A promised housing package from the Victorian Government could see a range of changes to short stay accommodation . A debated ‘Airbnb tax’ is just one, imposing levies and yearly caps on short stay property use . Reducing some land taxes and other fees could encourage landowners to make vacant dwellings available for longer term rent.
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