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Taxable payments annual report lodgment reminder
By WSC Group | Created on April 1, 2025
Businesses that pay contractors for 'Taxable payments reporting system services' may need to lodge a 'Taxable payments annual report' by 28 August each year.
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.
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.
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.
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'.
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.
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.
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.
CGT withholding measures now law
By WSC Group | Created on February 5, 2025
The Government recently passed legislation making changes to the foreign resident capital gains withholding laws (among other changes).
ATO's notice of rental bond data-matching program
By WSC Group | Created on February 5, 2025
The ATO will acquire rental bond data from State and Territory rental bond regulators bi-annually for the 2024 to 2026 income years, including details of the landlord and tenant, managing agent identification details, and rental bond transaction details.
Study/training loans — What's new
By WSC Group | Created on February 5, 2025
The indexation rate for study and training loans is now based on the Consumer Price Index ('CPI') or Wage Price Index — whichever is lower.
