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FBT record keeping and plug-in hybrid exemption changes
By WSC Group | Created on April 1, 2025
With the 2025 fringe benefits tax ('FBT') year having just ended, the ATO is reminding employers of some changes that might impact their FBT obligations.
Reminder of March 2025 Quarter Superannuation Guarantee ('SG')
By WSC Group | Created on April 1, 2025
Employers are reminded that employee super contributions for the quarter ending 31 March 2025 must be received by the relevant super funds by Monday, 28 April 2025.
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.
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'.
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.
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.
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.
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.
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.
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 debunks Division 7A 'myths'
By WSC Group | Created on February 12, 2025
Division 7A of the tax legislation is intended to prevent profits or assets being provided to shareholders or their associates tax free.
TO debunks Division 7A 'myths'
By WSC Group | Created on February 5, 2025
Editor: The ATO has recently published a document 'debunking' various Division 7A 'myths'.
$13.6m in penalties imposed for false R&D claims
By WSC Group | Created on February 5, 2025
A joint investigation involving the ATO found that, between 2014 and 2017, a Sydney business coach promoted unlawful tax schemes encouraging clients to lodge over-inflated, inaccurate or unsubstantiated research and development ('R&D') tax incentive claims.
When to lodge SMSF annual returns
By WSC Group | Created on February 5, 2025
All trustees of SMSFs with assets (including super contributions or any other investments) as at 30 June 2024 need to lodge an SMSF annual return ('SAR') for the 2023/24 financial year.
