Rising fuel costs are continuing to place pressure on many Australian businesses, particularly those reliant on diesel, transport and supply chains. In response, the ATO is offering targeted support measures to assist businesses experiencing short-term cashflow pressure. Available support (on request before 30 June 2026) includes: Concessional payment plans, potentially including: No upfront payment Up
The Federal Labor party has been elected to return to government in the new parliament for another 3 years, with a clear majority. With the power they will hold in the parliament, it is likely they will push to legislate their election promises. Whilst the details and implications of these policies are still unclear, we
Trusts, specifically discretionary trusts, have long been the favored investment vehicle for families. They provide flexibility, asset protection, succession planning and taxation benefits. With the ATO’s recently announced updated interpretation of the law, the taxation benefits risk being eroded. Background Trustees of discretionary trusts regularly resolve to make certain beneficiaries
Cryptocurrency is now under the ATO’s spotlight due to a surge in new investors during the pandemic. It is easy to get caught up in the digital gold rush and find yourself a bit lost at tax time. ATO records show that over 600,000 Australian taxpayers have invested in cryptocurrency, with
Scammers are calling people and telling them that their Tax File Number (TFN) has been suspended. The Australian Taxation Office (ATO) do not suspend TFNs and will never request that you pay a fine or transfer money to protect your TFN pending legal action. Scammers are advising people that to have
