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Quarterly TBAR lodgment reminder
By WSC Group | Created on April 1, 2025
SMSFs must report certain events that affect a member's transfer balance account quarterly using transfer balance account reporting.
Trade wars and tariffs
By WSC Group | Created on March 25, 2025
Global Google searches for the word “tariffs” spiked dramatically between 30 January and 2 February 2025, a +900% increase to the previous 12 months. We look at what tariffs really mean.
Ban on foreign property purchases
By WSC Group | Created on March 25, 2025
The Government has announced a temporary ban on investors buying established homes between 1 April 2025 to 31 March 2027.
ATO busts NFP myths
By WSC Group | Created on March 25, 2025
As the Not-for-profit ('NFP') self-review return is due in March, the ATO has recently published a document 'busting' various NFP 'myths'.
FBT 2025 What you need to know
By WSC Group | Created on March 25, 2025
The Fringe Benefits Tax (FBT) year ends on 31 March. We’ve outlined the hot spots for employers and employees.
How to master Employer Obligations in 2025
By WSC Group | Created on March 25, 2025
Taxpayers who employ staff should remember the following important dates and obligations.
Taxpayer's claim for input tax credits unsuccessful
By WSC Group | Created on March 25, 2025
In a recent decision, the Administrative Review Tribunal ('ART') rejected a taxpayer's claim for input tax credits on the basis that all the relevant GST returns (i.e., BASs) were lodged out of time.
Claiming fuel tax credits when rates change
By WSC Group | Created on March 25, 2025
Fuel tax credits changed on 3rd February, and taxpayers could receive more savings for fuel they have acquired on and from this date.
ATOs appeal against decision that UPEs are not loans fails
By WSC Group | Created on March 25, 2025
The Full Federal Court recently dismissed the ATO's appeal against an AAT decision that unpaid present entitlements ('UPEs') owing by a trust to a corporate beneficiary were not 'loans' for Division 7A purposes.
ATOs tips to help taxpayers stay on top of their BAS
By WSC Group | Created on March 25, 2025
The ATO has the following tips to help taxpayers get their BAS right before they lodge.
