Effective from 1 January 2025, significant changes have been made to Foreign Resident Capital Gains Withholding (FRCGW), impacting all property transactions.

Every year the ATO makes changes to their tax returns and announce the key areas that they will be looking into.

With current cost of living pressures, rising interest rates and inflation, there are only so many ways you can save money.

You may already be aware of the ATO data matching program and its ability to identify income received during the financial year. To date, wage and salary income, interest income and dividends have all been identified by the ATO.

A new calendar year often brings legislative changes that understandably don’t receive much attention. One of these is the change in eligibility around downsizer contributions.

Land tax has always been a state-based tax calculated on the land held by investors in each relevant state.

At the time of writing, the Federal Government is preparing to release it’s 2022-23 Budget. Being an election year, we can expect that there is going to be a lot of short-term support to give voters a ‘sugar-hit’ either via tax cuts or offsets. This is understandable in a post pandemic world.

With the introduction of the director ID regime on 1 November 2021 comes a series of questions as to ‘why’ this is being implemented and ‘who’ it may apply to.

Due to the pandemic, we have seen more and more people working from home and able to claim home office deductions. Which is why the ATO has flagged that they will be looking at home office expenses claimed in the 2021 year more closely than ever.

What do you think of when you read the following: Ethereum, Stellar Lumen, Monero, Ripple and Cardano. You might think that these are luxury car names or maybe even fashion designers.