Podcasts about australian taxation office ato

KPMG Australia Indirect Tax Partner Jacqui Hardwick and Director Catherine Ommundson explore the updates made to the supplementary annual GST return, including use of the GST analytical tool (GAT), and why the Australian Taxation Office (ATO) is interested in companies' business processes and system changes.   Subscribe to KPMG Tax Now for regular updates. 

This four-part tax time 2025 series provides you with comprehensive coverage of topics tailored to assist Australian accountants, finance professionals and their clients.   In this first episode, learn about the latest updates from the Australian Taxation Office (ATO), as well as key information on:  Deductions  Record keeping  Investments  Digital tools  ATO focus areas  This episode will help ensure you and your clients are well prepared for tax season in 2025.    Listen now.   Host: Jenny Wong, tax lead, policy and advocacy, CPA Australia  Guest: Rob Thomson, assistant commissioner at the Australian Taxation Office (ATO) For links related to this episode, head to the ATO website for information on:  The ATO app  Occupation guides  Work-related expenses   Work-related self-education expenses   Super health check    From June 24, 2025, the full four-episode tax time 2025 series will be available to listen on CPA Australia's site.  And you can find CPA Australia's tax resources on the website.   CPA Australia publishes four podcasts, providing commentary and thought leadership across business, finance, and accounting:   With Interest  INTHEBLACK   INTHEBLACK Out Loud  Excel Tips  Search for them in your podcast platform.   Email the podcast team at podcasts@cpaaustralia.com.au  

In this episode, learn some of the key challenges facing accountants in their dealings with the Australian Taxation Office (ATO) and what you can expect in 2025.   Gain an overview of the challenges faced by small businesses, who account for 65 per cent of the ATO's debt, and the increasing pressures on both tax agents and taxpayers.  Dive into the ATO's renewed focus on tax debt recovery, especially the significant rise in unpaid taxes post-COVID.   Learn the importance of early engagement with the ATO to avoid enforcement actions like garnishee notices and director penalty notices (DPNs).  Key areas in this episode  Impact of COVID on ATO's $50 billion debt book.  Importance of early engagement and payment plans.  Consequences for non-payment, including garnishee notices and DPNs.  ATO's new initiatives to address GIC remission requests and improve timeliness.  The ATO's approach to vulnerable taxpayers and improving service for tax agents.  The impact of automation on the ATO.  Issues raised by CPA Australia members.  Tune in now for valuable insights on how small business and tax practitioners can avoid penalties and manage their tax obligations more effectively.  Host: Jenny Wong, Tax Lead, Policy and Advocacy, CPA Australia Guest: David Allen, Second Commissioner of Frontline Operations, ATO  For more information on the ATO, head to its website.   CPA Australia has tax resources on its website.   And you can find a CPA at our custom portal on the CPA Australia website.   Would you like to listen to more With Interest episodes? Head to CPA Australia's YouTube channel.   CPA Australia publishes four podcasts, providing commentary and thought leadership across business, finance, and accounting:   With Interest INTHEBLACK  INTHEBLACK Out Loud Excel Tips   Search for them in your podcast platform.   Email the podcast team at podcasts@cpaaustralia.com.au  

Are you prepared to protect yourself online? In today’s episode, I’m thrilled to dive into a critical topic—cybersecurity—with an extraordinary guest. Joining me is Kimberley Roberts-Salee, a cybersecurity expert from Cyber Wardens. She’s skilled at identifying and mitigating cyber threats for individuals and businesses and is passionate about empowering people with the knowledge to proactively prevent them. Kimberley and I had an insightful conversation about the common red flags of scams, practical steps you can take to safeguard your digital presence, and simple measures that could save you countless hours, heartbreak, and money. From understanding basic cybersecurity principles to implementing easy, actionable solutions, this episode covers it all. What’s more, Kimberley shared details about Cyber Wardens’ government-funded training programs. These free resources are designed to provide essential cybersecurity knowledge, whether you’re a business owner or simply someone looking to protect your personal information. The basic training takes just 10 minutes to complete and offers invaluable tips to secure your online presence. This isn’t about fear, it’s about awareness and action. Just as you protect your physical assets like cars or homes, it’s time to treat your online presence as a valuable asset too. So grab a pen, take notes, and let’s dive into this enlightening conversation with Kimberley Roberts-Salee. You won’t want to miss this one! We’ll be talking about: ➡ [0:00] Introduction ➡ [05:23] Who are Cyber Wardens? ➡ [07:49] What are cyber crimes? ➡ [09:40] Cyber crimes people need to know about ➡ [13:50] Cyber crimes are more prevalent for small businesses ➡ [17:29] It happens to everyone ➡ [19:27] Signs of a scam ➡ [22:47] How to cross check for legitimate websites ➡ [24:00] How to report scams ➡ [27:24] Red flags about Facebook Messenger scammers ➡ [34:50] Habits that are open to scams ➡ [41:30] My experience with a scammer ➡ [45:45] Top 3 things people need to do to prevent cyber crime ➡[47:14] Final thoughts Resources: Free Resources from Cyber Wardens: ➡ Online Modules:https://cyberwardens.co/accelerator To report a scam: ➡ Australian Cyber Security Centre: www.cyber.gov.au ➡ National Anti-Scam Centre: www.scamwatch.gov.au. ➡ IDCARE: www.idcare.org ➡ Australian Taxation Office (ATO): www.ato.gov.au ➡ Australian Securities and Investments Commission (ASIC): asic.gov.au About our guest: Kimberley is a senior marketing, communications and stakeholder engagement professional with 15 years of experience across multiple industries including tourism, business events, government, aviation and professional services. As the Head of Marketing and Communications for Cyber Wardens, she is passionate about raising awareness around the importance of small business cyber security and empowering small business owners and employees to increase their cyber resilience and learn how to stay safe online. Connect with Kimberley Roberts-Salee ➡ Kimberley Roberts-Salee’s LinkedIn: https://www.linkedin.com/in/kimberleyrs/?originalSubdomain=au ➡ Kimberley Roberts-Salee’s Facebook: https://www.facebook.com/kimberley.robertssalee.35/ ➡ Kimberley Roberts-Salee’s Instagram: https://www.instagram.com/kimberleyr_s/?hl=en Connect with Direct Selling Accelerator: ➡ Visit our website: https://www.auxano.global/ ➡ Subscribe to YouTube: https://www.youtube.com/c/DirectSellingAccelerator ➡ Follow us on Instagram: https://www.instagram.com/auxanomarketing/ ➡ Follow us on Facebook: https://www.facebook.com/auxanomarketing/ ➡ Email us: community_manager@auxano.global If you have any podcast suggestions or things you’d like to learn about specifically, please send us an email at the address above. And if you liked this episode, please don’t forget to subscribe, tune in, and share this podcast.See omnystudio.com/listener for privacy information.

A tax file number (TFN) is a unique identification number that is issued to individuals and businesses by the Australian Taxation Office (ATO). It is used to identify taxpayers and their tax affairs. You will need a TFN to work in Australia and to pay tax. It is also used to track your superannuation (pension) contributions. You may also need a TFN to open a bank account, apply for a loan, or claim certain government benefits. Blog post: https://medium.com/this-abroad-life/what-is-a-tax-file-number-tfn-in-australia-do-international-students-need-a-tfn-f83d3414e80d Website: https://smrgrg.com Watch on YouTube: https://youtu.be/FyjBX8y7tls

- I would like to acknowledge the traditional custodians of the land on which I recorded this episode, the Coodjinburra People of the Bundjalung Nation, and the land on which you're listening to it. I pay my respects to the elders, past and present, of those lands. I extend that respect to all Aboriginal and Torres Strait Islander listeners. Thank you for sharing this space with me. -Welcome to episode 100 of the Straight Up Small Business Podcast! This has been an incredible journey, and I'm so grateful to all of you for your support and listenership. Today I want to give you a guide to payment plans with the Australian Taxation Office (ATO). Payment plans can be a lifesaver for sole traders or business owners struggling with cashflow, so I think it's crucial to have a good understanding of what they are, how they work, and how to set one up. I'll also discuss the rules you'll need to follow, and share some tips for getting out of a cycle of debt.What is a Payment Plan?:A payment plan allows you to break down your tax debt owed to the ATO into manageable installments. These installments can be spread weekly, fortnightly, or monthly until the balance is cleared. Payment plans can be set up for business activity statement (BAS) debt, installment activity statement, or income tax debt.Setting Up a Payment Plan:Individuals, sole traders, and/or businesses, can typically apply for a payment plan with the ATO online. This is done where you usually handle your taxes. So for individuals and sole traders that's through myGov, and for companies, it's online services for business.Sometimes you might not be able to set up a payment plan online. This might be because the debt exceeds $200,000, or you have overdue debts, or you have previously defaulted on a payment plan. In this case, you can still set up a payment plan, but you will need to contact the ATO by phone. Once a payment plan is in place, there are a few important rules to follow:Firstly, you can only have one payment plan per lodgement type at a time. In other words, you can have one payment plan for income tax debt and another for activity statement debt, but not two payment plans for different activity statement quarters simultaneously. Secondly, installments must be made by the due date, and all future tax lodgments or payments must be made on time. If you are struggling to meet due dates it is crucial to communicate with the ATO and explore alternative arrangements, before your debt becomes overdue. Mindfulness and Planning Ahead:While payment plans can provide temporary relief in times of cash flow strain, it is essential to avoid relying on them for an extended period. The goal should be to free yourself and your business from payment plans as soon as possible. To achieve this, it is important to understand your tax savings needs and maintain a tax savings account. Navigating tax debt can be scary, but it shouldn't be. This episode shares everything you need to know about payment plans with the ATO which can help you overcome cash flow strain, and work towards financial freedom. I want you to be empowered to make informed decisions that improve your financial situation and build a thriving business! Where to Find Bec:Website:    https://straightupbookkeeping.com.au/Instagram:     @straightup_bookkeepingAttention Bookkeeping Business Owners - my 12 week group mentoring program, Bookkeeping It Real, is open for enrolment from 6 March through to 15 March. We start on 16March. Find out more HERE.

The Australian Taxation Office (ATO) report discloses that over 800 large companies did not pay any tax in the fiscal year 2021-22. In its ninth corporate tax transparency report, encompassing 2,713 corporate entities, the ATO observed a rise in overall tax collection, attributed to surging profits in mining companies and elevated oil prices. However, the report also highlights that 831 companies, constituting 31 percent of the total, did not contribute any tax payments. Armstrong, a certified Chartered Accountant of Australia, brings forth his extensive experience in Audit and Taxation, spanning over two decades, to elucidate the issue. Produced by RaySel. - ஆஸ்திரேலியாவில் இயங்கும் பெரும் நிறுவனங்களில் 800க்கும் மேற்பட்ட நிறுவனங்கள் 2021-22 நிதியாண்டில் எந்த வரியும் செலுத்தவில்லை என்று ஆஸ்திரேலிய வரி அலுவலகம் (ATO) அறிக்கை தெரிவிக்கிறது. பல மில்லியன் அல்லது பில்லியன் டாலர் கணக்கில் லாபம் ஈட்டியும் ஏன் இந்த நிறுவனங்கள் வரி செலுத்துவதில்லை என்று எழும் கேள்விக்கு பதில் தருகிறார் ஆஸ்திரேலியாவில் Chartered Accountant தகுதியுடன் கடந்த சுமார் இருபது ஆண்டுகளாக பணியாற்றும் ஆம்ஸ்ட்ராங் அவர்கள். அவரோடு உரையாடுகிறார்: றைசெல்.

Capital Gains Tax (CGT) is an important tax liability added to your taxable income for the financial year. It is not a separate tax. Read more to understand what it is and how the Australian Taxation Office (ATO) enforces it. - Capital Gains Tax (CGT) හෙවත් ප්‍රාග්ධන ලාභ බද්ද යනු, මූල්‍ය වර්ෂය සඳහා ඔබේ බදු අය කළ හැකි ආදායමට එකතු වන බදු වගකීමකි. නමුත් එය වෙනම බද්දක් නොවේ. එය කුමක්ද සහ ඕස්ට්‍රේලියානු බදු කාර්යාලය (ATO) එය බලාත්මක කරන්නේ කෙසේද යන්න පිළිබඳව තොරතුරු දැනගැනීමට SBS සිංහල AUSTRALIA EXPLAINED වෙත සවන් දෙන්න.

Capital Gains Tax (CGT) is an important tax liability added to your taxable income for the financial year. It is not a separate tax. Read more to understand what it is and how the Australian Taxation Office (ATO) enforces it.

Capital Gains Tax (CGT) is an important tax liability added to your taxable income for the financial year. It is not a separate tax. Read more to understand what it is and how the Australian Taxation Office (ATO) enforces it. - Capital Gains Tax (CGT) හෙවත් ප්‍රාග්ධන ලාභ බද්ද (CGT) යනු, මූල්‍ය වර්ෂය සඳහා ඔබේ බදු අය කළ හැකි ආදායමට එකතු වන බදු වගකීමකි. නමුත් එය වෙනම බද්දක් නොවේ. එය කුමක්ද සහ ඕස්ට්‍රේලියානු බදු කාර්යාලය (ATO) එය බලාත්මක කරන්නේ කෙසේද යන්න මෙම ලිපිය ඔස්සේ ගෙන එයි

Capital Gains Tax (CGT) yan ekan zoruri tax,ziyan tuañar income yani amodoni ít gola foribodé yan fotti bosor ór financial thaím ót.Iba hon alok tax noí.Fúni so kengóri Australian Taxation Office (ATO) amor gore.

Receiving communications from the Australian Taxation Office (ATO) can often be stressful for taxpayers and their advisers.  Nevertheless, being aware of what to anticipate and how to appropriately react can alleviate some of the anxiety.  As the deadline for submitting your tax return approaches (October 31), we've got you covered. This timely episode provides valuable insights and guidance on what's essential. Tune in now. Host: Dr Jane Rennie, Head of Media and External Engagement, CPA Australia Guest: Elinor Kasapidis, Head of Policy and Advocacy, CPA Australia For more insights on today's topic, CPA Australia has a tip sheet on responding to ATO enquiries. Additionally, the ATO has a taxpayer charter with further information.  CPA Australia publishes four podcasts, providing commentary and thought leadership across business, finance and accounting:  With Interest INTHEBLACK INTHEBLACK Out Loud Excel Tips Search for them in your podcast platform.  You can email the podcast team at podcasts@cpaaustralia.com.au

Capital Gains Tax (CGT) is an important tax liability added to your taxable income for the financial year. It is not a separate tax. Read more to understand what it is and how the Australian Taxation Office (ATO) enforces it. - Porez na kapitalnu dobit (CGT) je važna poreska obaveza koja se dodaje vašem oporezivom prihodu za finansijsku godinu. To nije poseban porez. Pročitajte više da biste razumjeli šta je to i kako ga Australski poreski ured (ATO) provodi.

Capital Gains Tax (CGT) is an important tax liability added to your taxable income for the financial year. It is not a separate tax. Read more to understand what it is and how the Australian Taxation Office (ATO) enforces it. - Capital Gains Tax (CGT) is een belangrijke belastingschuld die wordt toegevoegd aan uw belastbaar inkomen voor het boekjaar. Het is geen aparte belasting. Lees meer om te begrijpen wat het is en hoe de Australian Taxation Office (ATO) dit toepast.

Capital Gains Tax (CGT) is an important tax liability added to your taxable income for the financial year. It is not a separate tax. Read more to understand what it is and how the Australian Taxation Office (ATO) enforces it. - Податок на приріст капіталу (CGT) — це збір, який стягується з прибутку, отриманого від продажу активів. Якщо ви отримуєте приріст капіталу від продажу активів, це позначатиметься на сумі податкових зобов'язань, які ви повинні сплатити.

Capital Gains Tax (CGT) is an important tax liability added to your taxable income for the financial year. It is not a separate tax. Read more to understand what it is and how the Australian Taxation Office (ATO) enforces it. - ഓരോ വർഷവും നികുതി റിട്ടേൺ സമർപ്പിക്കുമ്പോൾ നിരവധിപ്പേർക്കു ക്യാപിറ്റൽ ഗെയിൻസ് ടാക്സ് അടക്കേണ്ടി വരുന്നുണ്ട്. എന്താണ് ക്യാപിറ്റൽ ഗെയിൻസ് ടാക്സ് (CGT) എന്നും, ഏതൊക്കെ സാഹചര്യങ്ങളില്‍ ഇത് അടയ്ക്കണമെന്നും അറിയാം, മുകളിലെ പ്ലെയറിൽ നിന്ന്.

Capital Gains Tax (CGT) is an important tax liability added to your taxable income for the financial year. It is not a separate tax. Read more to understand what it is and how the Australian Taxation Office (ATO) enforces it. - در پایان هر سال مالی، وقتی حساب مالیات خود را با دولت آسترالیا تسویه می‌کنید، باید بابت سودی که از فروش دارایی یا ملک خود کسب کرده‌اید نیز مالیات بپردازید. 'مالیات بر سود سرمایه' چیست، تحت چه شرایطی از آن معاف می‌شوید و اداره مالیات آسترالیا چگونه آن را اجرا می‌کند؟

Capital Gains Tax (CGT) is an important tax liability added to your taxable income for the financial year. It is not a separate tax. Read more to understand what it is and how the Australian Taxation Office (ATO) enforces it. - Capital Gains Tax (CGT) என்பது குறிப்பிட்ட நிதியாண்டில் உங்கள் வரிக்குரிய வருமானத்தில் சேர்க்கப்படும் முக்கியமான வரிப் பொறுப்பு ஆகும். இது தொடர்பில் Ruchika Talwar ஆங்கிலத்தில் தயாரித்த விவரணத்தை தமிழில் தருகிறார் றேனுகா துரைசிங்கம்.

Capital Gains Tax (CGT) is an important tax liability added to your taxable income for the financial year. It is not a separate tax. Read more to understand what it is and how the Australian Taxation Office (ATO) enforces it. - Capital Gains Tax (CGT) သည် ဘဏ္ဍာရေးနှစ်အတွက် သင်၏အခွန်ဆောင်ထားသော ၀င်ငွေတွင် ထည့်သွင်းထားသော အရေးကြီးသော အခွန်တာဝန်ဖြစ်သည်။ သီးခြားအခွန်မဟုတ်ပါ။ ၎င်းသည် အဘယ်အရာဖြစ်သည်နှင့် သြစတြေးလျအကောက်ခွန်ရုံး (ATO) က ၎င်းအား မည်သို့ကျင့်သုံး ကြောင်း နားလည်ရန် ပိုမိုဖတ်ရှုပါ။

Capital Gains Tax (CGT) is an important tax liability added to your taxable income for the financial year. It is not a separate tax. Read more to understand what it is and how the Australian Taxation Office (ATO) enforces it. - Pajak Keuntungan Modal atau Capital Gains Tax (CGT) merupakan kewajiban pajak penting yang ditambahkan ke penghasilan kena pajak Anda dalam satu tahun keuangan. Ini bukan pajak terpisah. Baca lebih lanjut untuk memahami tentang pajak ini dan bagaimana Kantor Pajak Australia (ATO) menerapkannya.

Capital Gains Tax (CGT) is an important tax liability added to your taxable income for the financial year. It is not a separate tax. Read more to understand what it is and how the Australian Taxation Office (ATO) enforces it. - Baca Qezencên sermiyan (CGT) berpirsîyarîya bacê ya girîng e ku ji bo sala aborî li dahata we ya bacdar dihê zêdekirin. Ev ne baceke cuda ye. Guhdar bikin da ku fêm bikin ka ew çi ye û Ofîsa Bacê ya Australya (ATO) çawa ferz dike.

Capital Gains Tax (CGT) yog ib co se ntawm cov personal income tax uas yuav tau them rau tej peev txheej uas koj muag li vaj tse, shares, cryptocurrency los yog lwm yam peev txheej txawv teb chaws uas koj muaj. Lub koom haum Australian Taxation Office (ATO) hais tias kom sawv daws yuav tsum xyuas kom them tej se no rau lub caij thov se (tax return) tsis li ntawd ces tej zaum kuj yuav raug nplua thiab. Yog muaj teeb meem dab tsi los yog xav tau kev pab cuam txog cov kev them se ces sib txuas lus nrog ATO los yog sab laj nrog tej tax agents (accountants).

Capital Gains Tax (CGT) is an important tax liability added to your taxable income for the financial year. It is not a separate tax. Read more to understand what it is and how the Australian Taxation Office (ATO) enforces it. - مالیات بر سود سرمایه (CGT) یک تعهد مالیاتی مهم است که به درآمد مشمول مالیات شما برای سال مالی اضافه می شود. این یک مالیات جداگانه نیست. این گزارش بخوانید/بشنوید تا بدانید که این مالیات چیست و چگونه اداره مالیات استرالیا (ATO) آن را اجرا می کند.

Capital Gains Tax (CGT) is an important tax liability added to your taxable income for the financial year. It is not a separate tax. Read more to understand what it is and how the Australian Taxation Office (ATO) enforces it. - 资本利得税 (CGT) 是计入您本财政年度应税收入的一项重要纳税义务。它不是单独的税。阅读更多内容以了解它是什么以及澳大利亚税务局 (ATO) 如何执行它。

Capital Gains Tax (CGT) is an important tax liability added to your taxable income for the financial year. It is not a separate tax. Read more to understand what it is and how the Australian Taxation Office (ATO) enforces it. - क्यापिटल गेन ट्याक्स (सीजीटी) भनेको सम्पत्ति बेच्दा प्राप्त हुने मुनाफामा लाग्ने कर हो। कुनै सम्पत्ति बेच्दा, त्यसबाट फाइदा भयो भने तपाईँले त्यस बापतको कर अस्ट्रेलियन सरकारलाई तिर्नु पर्ने हुन्छ। यो छुट्टै कर नभएर, एक आर्थिक वर्षमा तपाईँले कमाएको आम्दानी भित्रै यसको गणना गरिन्छ।

Capital Gains Tax (CGT) is an important tax liability added to your taxable income for the financial year. It is not a separate tax. Read more to understand what it is and how the Australian Taxation Office (ATO) enforces it. - Capital Gains Tax หรือภาษีกำไรจากการขายสินทรัพย์ซึ่งเพิ่มเติมจากภาษีเงินได้รายบุคคลของปีการเงิน อ่านข้อมูลเพื่อทำความเข้าใจว่าภาษีนี้คืออะไร และกรมสรรพากรออสเตรเลีย (ATO) บังคับใช้ภาษีนี้อย่างไร

Capital Gains Tax (CGT) is an important tax liability added to your taxable income for the financial year. It is not a separate tax. Read more to understand what it is and how the Australian Taxation Office (ATO) enforces it. - 資產增值稅 (Capital Gains Tax, CGT) 在財政年度中的應稅收入中，是一個重要的稅項。它不是一個獨立的稅收。此文將讓你了解資產增值稅是甚麼以及澳洲稅務局（ATO）如何徵收。

Capital Gains Tax (CGT) is an important tax liability added to your taxable income for the financial year. It is not a separate tax. Read more to understand what it is and how the Australian Taxation Office (ATO) enforces it. - ক্যাপিটাল গেইন ট্যাক্স বা সিজিটি হচ্ছে সম্পদ বিক্রয় থেকে প্রাপ্ত মুনাফার উপর প্রযোজ্য কর। কোনও সম্পত্তি বিক্রি করার ফলে যদি সেখান থেকে কোনো মুনাফা বা লাভ হয়ে থাকে, তাহলে বিক্রয়কারীকে সেই লাভের ওপরে ট্যাক্স বা কর প্রদান করতে হয়। এই ট্যাক্সটি সাধারণত নিয়মিত আয়কর রিটার্নের মধ্যে অন্তর্ভুক্ত করা থাকে, প্রতি অর্থ-বছর শেষে অর্থাৎ ৩০ জুনের পরে যেটি জমা দিতে হয়। সম্পত্তি বা শেয়ারের মতো মূলধন বিক্রির ফলে প্রাপ্ত লাভ বা ক্ষতির ব্যাপারে আয়কর রিটার্নের সময় ট্যাক্স অফিসকে জানান দেয়া জরুরি, অন্যথায় জরিমানার ঝুঁকি রয়েছে।

Capital Gains Tax (CGT) is an important tax liability added to your taxable income for the financial year. It is not a separate tax. Read more to understand what it is and how the Australian Taxation Office (ATO) enforces it. - Capital Gains Tax (CGT), mali yıl süresince elde ettiğiniz gelire ilave edilen önemli bir vergi yükümlülüğüdür. Ayrı bir vergi değildir. Bu yazıda vergiyi anlayacak, Avustralya Vergi Dairesi'nin (ATO) bu vergiyi nasıl tahsil ettiğini öğreneceksiniz.

Capital Gains Tax (CGT) is an important tax liability added to your taxable income for the financial year. It is not a separate tax. Read more to understand what it is and how the Australian Taxation Office (ATO) enforces it. - Thuế lãi vốn (Capital gains tax) là thuế áp dụng cho lợi nhuận thu được từ việc bán tài sản. Nếu bạn bán tài sản, chẳng hạn như bất động sản hoặc cổ phiếu, cần phải báo cáo mọi khoản lãi hoặc lỗ phát sinh trong tờ khai thuế thu nhập hiện tại của bạn để tránh bị phạt.

Capital Gains Tax (CGT) is an important tax liability added to your taxable income for the financial year. It is not a separate tax. Read more to understand what it is and how the Australian Taxation Office (ATO) enforces it. - ضريبة الربح على رأس المال هي جزء أساسي من التزامك الضريبي في أستراليا. إنها ليست ضريبة منفصلة وتأتي كجزء من دخلك الخاضع للضريبة للسنة المالية. في هذا المقال، سنتناول مفهوم ضريبة الربح على رأس المال وكيف يقوم مكتب الضرائب الأسترالي بتطبيقها.

Capital Gains Tax (CGT) is an important tax liability added to your taxable income for the financial year. It is not a separate tax. Read more to understand what it is and how the Australian Taxation Office (ATO) enforces it. - Capital Gains Tax (CGT) yog ib co se uas yuav tau them ntxiv rau tej nyiaj koj khwv tau rau ib financial year twg. Thiab tsis yog lwm cov se (tax) txawv dab tsi. Nyeej tau ntxiv kom koj nkag siab txog tias CGT yog dab tsi thiab Australia lub tuam chav sau se (Australian Taxation Office - ATO) ho tswj tej hauj lwm no li cas.

Capital Gains Tax (CGT) is an important tax liability added to your taxable income for the financial year. It is not a separate tax. Read more to understand what it is and how the Australian Taxation Office (ATO) enforces it.

Capital Gains Tax (CGT) is an important tax liability added to your taxable income for the financial year. It is not a separate tax. Read more to understand what it is and how the Australian Taxation Office (ATO) enforces it. - ពន្ធលើផលចំណេញមូលធន ឬ Capital Gains Tax (CGT) គឺជាពន្ធដែលបានអនុវត្តចំពោះប្រាក់ចំណេញដែលទទួលបានពីការលក់ទ្រព្យសម្បត្តិ។ ប្រសិនបើអ្នកមាន Capital Gain (ប្រាក់ចំណេញ) នៅពេលលក់ទ្រព្យសម្បត្តិ វានឹងរួមចំណែកដល់ទំនួលខុសត្រូវពន្ធរួម ដែលអ្នកត្រូវបានទាមទារឱ្យទូទាត់។ ពន្ធនេះត្រូវបានរួមបញ្ចូលនៅក្នុងរបាយការណ៍ពន្ធលើប្រាក់ចំណូលរបស់អ្នក ដែលត្រូវប្រកាសបន្ទាប់ពីការបិទបញ្ចប់នៃឆ្នាំហិរញ្ញវត្ថុនៅអូស្ត្រាលី គឺនៅថ្ងៃទី 30 ខែមិថុនា។

Capital Gains Tax (CGT) is an important tax liability added to your taxable income for the financial year. It is not a separate tax. Read more to understand what it is and how the Australian Taxation Office (ATO) enforces it. - کیپٹل گینز ٹیکس ایک اہم ٹیکس ذمہ داری ہے جو مالی سال کے لیے آپ کی قابل ٹیکس آمدنی میں شامل ہے۔ یہ الگ ٹیکس نہیں ہے۔ اس ہفتے کے آسٹریلیا ایکسپلینڈ میں شامل ہے کہ سی جی ٹی کیا ہے اور آسٹریلین ٹیکسیشن آفس اسے کیسے نافذ کرتا ہے۔

Capital Gains Tax (CGT) is an important tax liability added to your taxable income for the financial year. It is not a separate tax. Read more to understand what it is and how the Australian Taxation Office (ATO) enforces it.

Welcome to the ninety fourth episode of the #Expatchat podcast where we discuss the latest tax and financial issues affecting an #Australianexpat. In today's Expat Chat we talk about the upcoming referendum that is being held in Australia next month and whether an Australian expat can and should vote. According to the Australian Electoral Commission (AEC) an Australian expat is eligible to vote as an Overseas Elector as long as they are an Australian citizen over the age of 18 and are intending to return to Australia within the next 6 years. The next question is whether an Australian expat should vote and here we are not referring to them exercising their right to vote but moreso will it cause further complications with respect to their claim of being a non-resident for tax purposes with the Australian Taxation Office (ATO). Under the current tax residency rules if you were to vote the question of whether you would be classified as a tax resident is very grey and is one of the reasons the proposed tax residency have been recommended. In this episode we run through the following topics:  • Can a Australian expat register to vote? • How does a Australian expat vote? • Where can a Australian expat vote? • Will voting as a Australian expat affect my non-residency status with the ATO? Links that we discussed in this episode include: • Proposed Changes to Expat Tax Residency Rules - https://atlaswealth.com/news/changes-to-the-australian-tax-residency-rules-affecting-expats/ • Facebook Group - Don't forget to join our Australian Expat Financial Forum Facebook Group - https://www.facebook.com/groups/Australianexpatfinancialforum • Ask Atlas - Have your questions answered on the podcast by clicking this link - https://atlaswealth.com/news-media/australian-expat-podcasts/questions-or-feedback-for-the-expat-podcast/ • Expat Mortgage Podcast - https://atlaswealth.com/news-media/australian-expat-podcasts/expat-mortgage-podcast/ If you like the content make sure you let us know by hitting the thumbs up and subscribing as well as providing some feedback in the comments below. Atlas Wealth Management is a specialist in providing tax financial planning advice to every Australian #expat. Whether you are based in Asia, the Middle East, Europe or the Americas, we have the experience in providing wealth management and planning services to the expatriate community. Atlas Wealth Management was born out of the demand from expats who wanted a financial adviser to help them navigate the tax and financial maze of living abroad as well as assisting them make the most out of their time overseas. To find out more about Atlas Wealth Management and how we can help Australian expats please go to https://www.atlaswealth.com. Make sure you connect with us on our respective social media channels: Facebook: www.facebook.com/atlaswealthmgmt LinkedIn: www.linkedin.com/company/atlas-wealth-management Twitter: www.twitter.com/atlaswealthmgmt Instagram: www.instagram.com/atlaswealthmgmt

Muita gente na Austrália está recebendo retorno reduzido do Australian Taxation Office (ATO). Isso porque a entidade que controla o imposto de renda no país reativou discretamente a cobrança de dívidas de quase 300 mil pessoas.

The Australian economy has been relatively stable in the face of the higher interest rates, until now but cracks may be forming as new data arrives. Our mortgage stress analysis which we reported on earlier is one. Now Payroll jobs data says the same. The Australian Taxation Office (ATO) receives payroll information from employers with … Continue reading "Are There Signs The Australian Labor Market Is Slowing? [Podcast]"

In our recent podcast episode, we had the pleasure of speaking with Ryan Gair, the CEO of Rate Money, about the market performance in the first half of the year. Despite facing some significant challenges, Rate Money has not only managed to weather the storm but also expand its franchise operations. Which highlights that there are opportunities if you look at it. Not only is the Fixed Rates producing opportunities for brokers in terms of refinancing business, but the changing landscape of how the Australian Taxation Office (ATO) is now stepping up its efforts to pursue tax debt has also opened the doors for more potential business. This development presents a unique opportunity for brokers, as it opens up a different customer potential and market. Ryan encouraged brokers to set themselves apart from the competition, particularly those who primarily focus on residential lending. The discussion sheds light on the dynamic nature of the market and the importance of adaptability. Ryan's insights and challenges to brokers underscored the need for innovation and differentiation in order to thrive in the ever-evolving lending landscape.

Xov xwm hnub zwj Hnub (Sunday news 04.06.2023), Australia txoj kev koom sib raug zoo phab nom tswv, kev koom tes lagluam thiab kev koom tes nrog cheeb tsam Southeast Asia, Australian Taxation Office (ATO) cov kev ceeb toom kom zej tsoom Australia them se rau txoj hauj lwm ob uas neeg Australia ua rau cov tax return xyoo no.

The Australian Taxation Office (ATO) has announced its 3 key focus areas for this Tax Time. Listen to the SBS Sinhala radio feature on this news update. - ඔස්ට්‍රේලියාවේ 2022/23 මුල්‍ය වර්ෂය සඳහා බදු ගෙවන්නන් යොමු කරන Annual Tax Return එකේදී ප්‍රධාන ක්ෂේත්‍ර 3 ක් වෙත ප්‍රමුඛ අවධානය යොමු කරන බව ඔස්ට්‍රේලියානු බදු කාර්යාලය නිවේදනය කර තිබේ. මේ පිළිබඳ වැඩිදුර තොරතුරු මෙම කෙටි විශේෂාංගයෙන්.

Welcome to episode 40 of the Inner Game of Change Podcast where I focus on exploring the multi layers of managing and enabling organisational change.Today, I am beyond thrilled to chat with Frances Cawthra; Chief Executive Officer for Cenitex , a thought leader and an amazing human.With a wealth of leadership experience in both public and private sectors, and leading complex and technology based organizations, Frances's secret recipe for success is her relentless focus on helping people and stakeholders succeed.In today's episode, Frances shares with me her views on the outer game of change. An episode never to be missed!I am grateful to have Frances chatting with me today.About FrancesChief Executive OfficerFrances has a wealth of leadership experience in both the public and private sectors. She draws on extensive experience in information technology, large transaction processing centres, customer contact centres and client relationship management. Frances has held the position of Chief Executive Officer of Cenitex since July 2019. Cenitex provides shared information and Communications Technology (ICT) services to the Victorian public sector. It enables departments, agencies and more than 55,000+ users to deliver services for the Victorian community.Prior to joining Cenitex, Frances was with the Australian Taxation Office (ATO) for 14 years and for the last 7 years held the role of Chief Financial Officer. As Chief Financial Officer she managed a $3.6 billion operating budget and a capital budget in excess of $180 million including a property portfolio of approximately $300 million. Frances led several business divisions within the ATO, comprising very large workforces of up to 7500 employees across 36 national sites.Frances's roles in the ATO provided her with a strong understanding and appreciation of public service ethics, delivery to government and the community.Each of her roles has included regular appearances at Senate Estimates, frequent appearances at other committees of enquiry such as the Joint Committee of Public Accounts and Audit (JCPAA) and regularly briefing Minister's and their advisors.Frances has held various committee positions over her career including the Australian Bureau of Statistic 2021 Census Board, the Victorian State Revenue Committee and the Federal Circuit Court Audit and Risk Committee. Ali Juma @The Inner Game of Change podcast

Today on the podcast I provide an overview of what you need to know about Single Touch Payroll 2 (STP2). For business owners who have staff or are employees themselves, this is relevant for you. And STP2 is already here, so there are things that you need to know.I actually suspect that many employing business owners are living in blissful ignorance right now because they don't know what they don't know about STP2. Don't stress - this episode is here to help and runs throught the basics.First up, I explain what STP is, why you need to care about it and what it's replacing.I then run through the changes that STP2 will mean for reporting and the types of details that you are now required to report on. Depending on your business these changes may have no impact or, it may have a massive impact for the payslips that you're producing.I run through two practical examples of what this might look like and also explain the areas that should be simple and those that you may need to pay a little more attention to, depending on the nature of your business.Additionally, there are two methodologies that the Australian Taxation Office (ATO) is proposing for the changeover to STP2, so I explain the difference between those.This is a big change to the payroll reporting requirements in Australia and there is a lot of detail to take in. This episode will help you understand the basics so grab and pen and paper and tune in so that you stay on top of the changes!LINKS:Register your interest in the Bookkeeping it Real Mentoring Program here.Check out my course Bookkeeping it Real here!Where to Find Bec:Website:https://straightupbookkeeping.com.au/ Instagram: @straightup_bookkeepingFacebook: @straightupbookkeepingLinkedIn: @straight-up-bookkeeping

The Australian Taxation Office [ATO] requires that verified company directors have a “Director ID”, in an attempt to eliminate so-called 'false directors' in business. - Kantor Perpajakan Australia [ATO] mewajibkan direktur perusahaan yang terverifikasi memiliki "Director ID", dalam upaya untuk menghilangkan apa yang disebut 'direktur palsu' dalam bisnis.

In this episode of Crypto Curious your hosts Tracey, Blake, and Craig discuss self-managed superannuation funds (SMSFs) with special guest John Collignon of C2 Super. They talk about how superannuation funds in Australia have changed over the years and the various schemes that are available today. John explains the different types of super funds that Australians have access to, including Approved Deposit Funds (ADF), Australian Prudential Regulation Authority (APRA) funds, and Australian Taxation Office (ATO) funds. ATO-regulated funds allow Australians to manage their own SMSF, where you become the sole member and trustee. Listen to the full episode to learn about all the benefits you can gain from investing in cryptocurrency and other assets via an SMSF.Find more out about John here.Download the Bamboo app and use code CURIOUS for $10 in ETH.Follow Crypto Curious on Instagram, or send the team an email with all your thoughts here. *****In the spirit of reconciliation, Equity Mates Media and the hosts of Crypto Curious acknowledge the Traditional Custodians of country throughout Australia and their connections to land, sea and community. We pay our respects to their elders past and present and extend that respect to all Aboriginal and Torres Strait Islander people today. *****Crypto Curious is a product of Equity Mates Media. All information in this podcast is for education and entertainment purposes only. Equity Mates gives listeners access to information and educational content provided by a range of financial service professionals. It is not intended as a substitute for professional finance, legal or tax advice. The hosts of Crypto Curious are not aware of your personal financial circumstances. Equity Mates Media does not operate under an Australian financial services licence and relies on the exemption available under the Corporations Act 2001 (Cth) in respect of any information or advice given.Before making any financial decisions you should read the Product Disclosure Statement and, if necessary, consult a licensed financial professional. Do not take financial advice from a podcast. For more information head to the disclaimer page on the Equity Mates website where you can find ASIC resources and find a registered financial professional near you. In the spirit of reconciliation, Equity Mates Media and the hosts of Crypto Curious acknowledge the Traditional Custodians of country throughout Australia and their connections to land, sea and community. We pay our respects to their elders past and present and extend that respect to all Aboriginal and Torres Strait Islander people today. Crypto Curious is part of the Acast Creator Network. See acast.com/privacy for privacy and opt-out information.

Welcome to the third episode in the Gender and Revenue Administration Podcast Series. A special collaborative series by the International Monetary Fund's Fiscal Affairs Department and the TADAT Secretariat. This is Wofai Ibiang from the TADAT Secretariat. The first two episodes featured leaders in Tax and Customs' Administrations who shared their views and strategies on how to seek gender equity in their organizations. This episode is moderated by Ms. Vicki Perry, Deputy Director, Fiscal Affairs Department of the IMF, with guests Ms. Deborah Jenkins, Deputy Commissioner, Small Business at the Australian Taxation Office (ATO), and Ms. Doris Akol, Senior Policy and Engagement Advisor for the International Center for Tax and Development (ICTD)'s DIGITAX program. Ms. Jenkins shares her perspective on the role of gender at the ATO and how the Australian government's clear commitment has set the country as one of the leaders in gender equality. Ms. Akol shares insights regarding the facilitation of gender equality in Uganda. Both speakers highlight pragmatic steps that countries can adopt towards improving gender equality, especially in tax administrations.

Bem-vindos ao terceiro episódio da Série de Podcasts sobre Gênero e Administração Tributária. Uma série especial do Departamento de Finanças Públicas do Fundo Monetário Internacional e do Secretariado da TADAT. Os dois primeiros episódios apresentaram líderes das Administrações Tributárias e Aduaneiras, que compartilharam suas visões e estratégias sobre como buscar a equidade de gênero em suas organizações. Este episódio é moderado pela Sra. Vicki Perry, vice-diretora do Departamento de Finanças Públicas do FMI, que recebe a Sra. Deborah Jenkins, vice-comissária para Pequenas Empresas na Australian Taxation Office (ATO), e a Sra. Doris Akol, Consultora Sênior de Política e Engajamento do programa DIGITAX do Centro Internacional de Tributação e de Desenvolvimento (ICTD). A Sra. Jenkins compartilha sua perspectiva sobre o papel do gênero na ATO e como o claro compromisso do governo australiano definiu o país como um dos líderes em igualdade de gênero. A Sra. Akol compartilha percepções sobre a facilitação da equidade de gênero em Uganda. Ambas as palestrantes destacam medidas pragmáticas que os países podem adotar para melhorar a igualdade de gênero, especialmente nas administrações tributárias.

Small Biz Matters – #197 Providing the small business community with educational content and advocacy since 2014 with Alexi Boyd, broadcaster, advocate and small business owner. Date: 23 February 2021 Time to get excited about statistics. No, really! As small business owners we are often reminded to learn who our ideal client is and research this with gusto until we have a perfect image in our minds as to who they are and what makes them tick. We normally gather this info from anecdotal experiences and conversations with other business owners or mentors. But what if all this ideal info like location, B2B details, demographic, political persuasion, customs and habits, and social media use was already easily and freely available. Well, guess what… it is! There’s a government department full of real boffins who are passionate about sharing this wealth of knowledge and when it comes to collecting, analysing and delivering this sort of data they’ve made it accessible and useful to small business - and now have a brand new website too! Its all there for the taking and today we welcome back John Shepherd the General Manager, Industry Statistics Division &  Bjorn Jarvis Head Labour Statistics to explain how and why we should tap into this goldmine of data. Topics we’ll be covering: Why should small businesses be across these statistics and how to access specifically the labour force data? How can being aware of labour force data influence your growth decisions as a small business? How can a business navigate their way through the website and what are the most useful sections, in your opinion? Where does the ABS get this data from & how robust & accurate is it? Building on success on ATO’s STP and exploring ways a business can report survey data through their software It’s now real-time rather than based on tax returns which can be months out of date Sharing the latest ABS updates for small business & new website COVID business survey Patterns and trends Latest retail trade survey Business conditions updates Why check out the new website? Easy to digest info Start with business snapshot then go and explore the main page Jobs and wages info (from 700,000 businesses) then breaking down by sectors > how can businesses use the data To find out more go to their website: www.abs.gov.au All about the ABS - https://www.abs.gov.au/about?OpenDocument&ref=topBar ABS response to COVID-19 - https://www.abs.gov.au/websitedbs/D3310114.nsf/home/ABS%20responds%20to%20COVID-19. A handy calendar that lists statistical releases for the coming six months - https://www.abs.gov.au/AUSSTATS/abs@.nsf/webpages/ABS+Release+Calendar About our Guest: John Shepherd is the General Manager leading the Industry Statistics Division. The Industry Statistics Division is responsible for developing, compiling, analysing and disseminating statistical information across a range of sectors including Agriculture, Environment, Building and Construction, Transport, Tourism, Financial Institutions, Innovation and Technology. The Division also produces Main Economic Indicators including Private New Capital Expenditure, Retail Trade, Business Indicators, Building Approvals, Job Vacancies, New Motor Vehicle Sales and Housing and Lending Finance. The Division includes the Statistical Infrastructure and International Branch, encompassing the International Relations & Regional Statistical Development section, the Business Register Unit and the Statistical Standards and Infrastructure section. The Division is focussed on working with its partners to provide a strong information base for policy development and evaluation. John joined the ABS in June 2019 after a lengthy career at the Australian Taxation Office (ATO). At the ATO, John held a number of senior roles in his 28 years, including leading significant change programs and projects focused on improving the client experience. John’s most recent role was leading the implementation of the Single Touch Payroll (STP) initiative, enabling employers to report their tax and superannuation information for their employees at the same time as they paid staff. STP aims to streamline business reporting to government and support better tax and super experiences for all employees. John also played an active role in superannuation reform, including leading the implementation of SuperStream and a number of other superannuation reform initiatives including online superannuation account consolidation. John is a passionate Movember ambassador and fundraiser for men’s health initiatives. John holds a Masters of Taxation from the University of NSW and is based in Canberra. Bjorn Jarvis is the head of labour statistics at the ABS. His team produces the wide range of information on the labour market, based on data provided by businesses and  people. He has a passion for how statistics can help businesses, governments, communities and individuals inform their important decisions, and also loves a good graph.  

Small Biz Matters – #183 Providing the small business community with educational content and advocacy since 2014with Alexi Boyd, broadcaster, advocate and small business owner.Date: 27 October 2020 Time to get excited about statistics. No, really! As small business owners we are often reminded to learn who our ideal client is and research this with gusto until we have a perfect image in our minds as to who they are and what makes them tick. We normally gather this info from anecdotal experiences and conversations with other business owners or mentors. But what if all this ideal info like location, B2B details, demographic, political persuasion, customs and habits, and social media use was already easily and freely available. Well, guess what… it is! There’s a government department full of real boffins who are passionate about sharing this wealth of knowledge and when it comes to collecting, analysing and delivering this sort of data they’ve made it accessible and useful to small business - and now have a brand new website too! Its all there for the taking and today we welcome back John Shepherd the General Manager, Industry Statistics Division at ABS to explain how and why we should tap into this goldmine of data. Topics we’ll be covering: Sharing the latest ABS updates for small business COVID business survey) Patterns and trends Jobs and wages info (from 700,000 businesses) which can be broken down by sectors Latest retail trade survey Business conditions updates Why check out the new website? Easy to digest info Start with business snapshot then go and explore the main page Jobs and wages info (from 700,000 businesses) then breaking down by sectors > how can businesses use the data Upcoming developments in the pipeline to help small business Building on success on STP and exploring ways a business can report survey data through their software Making sure the data is safe, aggregated and ready to use Email address to be involved for beta testing to help make this useful To find out more go to their website: www.abs.gov.au All about the ABS - https://www.abs.gov.au/about?OpenDocument&ref=topBar ABS response to COVID-19 - https://www.abs.gov.au/websitedbs/D3310114.nsf/home/ABS%20responds%20to%20COVID-19. A handy calendar that lists statistical releases for the coming six months - https://www.abs.gov.au/AUSSTATS/abs@.nsf/webpages/ABS+Release+Calendar About our Guest: John Shepherd is the General Manager leading the Industry Statistics Division. The Industry Statistics Division is responsible for developing, compiling, analysing and disseminating statistical information across a range of sectors including Agriculture, Environment, Building and Construction, Transport, Tourism, Financial Institutions, Innovation and Technology. The Division also produces Main Economic Indicators including Private New Capital Expenditure, Retail Trade, Business Indicators, Building Approvals, Job Vacancies, New Motor Vehicle Sales and Housing and Lending Finance. The Division includes the Statistical Infrastructure and International Branch, encompassing the International Relations & Regional Statistical Development section, the Business Register Unit and the Statistical Standards and Infrastructure section. The Division is focussed on working with its partners to provide a strong information base for policy development and evaluation. John joined the ABS in June 2019 after a lengthy career at the Australian Taxation Office (ATO). At the ATO, John held a number of senior roles in his 28 years, including leading significant change programs and projects focused on improving the client experience. John’s most recent role was leading the implementation of the Single Touch Payroll (STP) initiative, enabling employers to report their tax and superannuation information for their employees at the same time as they paid staff. STP aims to streamline business reporting to government and support better tax and super experiences for all employees. John also played an active role in superannuation reform, including leading the implementation of SuperStream and a number of other superannuation reform initiatives including online superannuation account consolidation. John is a passionate Movember ambassador and fundraiser for men’s health initiatives. John holds a Masters of Taxation from the University of NSW and is based in Canberra.

The Australian Taxation Office (ATO) has threatened hefty fines to individuals providing false or misleading information to meet the eligibility criteria for early release of superannuation under the coronavirus assistance scheme. Financial planning consultant Saradha Ramanathan answers some important questions on 'early release of superannuation' and 'minimum wage increase'. - கொரோனா பரவல் காலப்பகுதியில் வேலையிழந்த மற்றும் நிதிநெருக்கடியை எதிர்கொள்ளும் ஆஸ்திரேலியர்கள் தங்களது Superannuation நிதியின் ஒருபகுதியை இரண்டாம்கட்டமாக பெற்றுக்கொள்வது தொடர்பிலும், நாட்டில் குறைந்தபட்ச ஊதியம் அதிகரிக்கப்பட்டுள்ளமை தொடர்பிலும் விளக்குகிறார் நிதி திட்டமிடல் ஆலோசகராக பணியாற்றும் சாரதா ராமநாதன் அவர்கள். அவரோடு உரையாடுகிறார் றேனுகா துரைசிங்கம்

Small Biz Matters – a half hour program each week where you can work ON your business rather than IN it.with Alexi Boyd, broadcaster, advocate and small business owner.Date: 23 June 2020 As small business owners we are often reminded to learn who our ideal client is and research this with gusto until we have a perfect image in our minds as to who they are and what makes them tick. We normally gather this info from anecdotal experiences and conversations with other business owners or mentors.  But what about the ideal location, B2B details, demographic, political persuasion, customs and habits, and social media use? This would be great info to help with your marketing strategy but where can you find it? Luckily there’s a government department who are real boffins when it comes to collecting, analysing and delivering this sort of data right into your lap. Its there for the taking and today we welcome John Shepherd the General Manager, Industry Statistics Division at ABS to explain how and why we should tap into this goldmine of data. Welcome back to the show John. Topics we’ll be covering: The ABS has been doing a lot of new and interesting things recently. What sort of changes has the ABS made in response to COVID-19? Here John will highlight some changes (ie Rapid surveys, modifying work programs) What is the ABS hoping to achieve with these changes? (eg collecting data from small businesses owners, getting a pulse on Australia to understand how they are being affected) Here John will highlight some key findings from the COVID19 surveys, general impacts on small businesses and how the info has been helping decision making The ABS collect data from a range of businesses. Can you run through the processes with how it’s done with small businesses? John will be highlighting and running through the following: How ABS collects data (ie: Sending out letters with login codes, what it looks like) Letting businesses know how they can find out if the letter is legitimate Detailing why it is important for small businesses to complete surveys – this includes touching on sampling, provider burden Answering the questions “Do I have to do this?” What insights does ABS data provide about small businesses? This is where John can highlight some findings that ABS data highlights from various surveys including: CABEE (Counts of Australia Businesses, including Entries and Exits) COVID Business indicators Other relevant surveys What sort of data and statistics are available for small businesses to use? Here John can go over high-level info that ABS collects and how small businesses can use it, which will include things like: High level overview of what data ABS collects – ie demographic, business Give “high level” examples of how businesses use data – CPI for to adjust for inflation etc Overview of where small businesses can find more info – ie on website (including points of interest), social media Then go into detail about HOW small businesses can use the data through “data story examples” To find out more go to their website: www.abs.gov.au  All about the ABS - https://www.abs.gov.au/about?OpenDocument&ref=topBar ABS response to COVID-19 - https://www.abs.gov.au/websitedbs/D3310114.nsf/home/ABS%20responds%20to%20COVID-19. A handy calendar that lists statistical releases for the coming six months - https://www.abs.gov.au/AUSSTATS/abs@.nsf/webpages/ABS+Release+Calendar   Our Guest: John Shepherd John Shepherd is the General Manager leading the Industry Statistics Division. The Industry Statistics Division is responsible for developing, compiling, analysing and disseminating statistical information across a range of sectors including Agriculture, Environment, Building and Construction, Transport, Tourism, Financial Institutions, Innovation and Technology. The Division also produces Main Economic Indicators including Private New Capital Expenditure, Retail Trade, Business Indicators, Building Approvals, Job Vacancies, New Motor Vehicle Sales and Housing and Lending Finance. The Division includes the Statistical Infrastructure and International Branch, encompassing the International Relations & Regional Statistical Development section, the Business Register Unit and the Statistical Standards and Infrastructure section. The Division is focussed on working with its partners to provide a strong information base for policy development and evaluation. John joined the ABS in June 2019 after a lengthy career at the Australian Taxation Office (ATO). At the ATO, John held a number of senior roles in his 28 years, including leading significant change programs and projects focused on improving the client experience. John’s most recent role was leading the implementation of the Single Touch Payroll (STP) initiative, enabling employers to report their tax and superannuation information for their employees at the same time as they paid staff. STP aims to streamline business reporting to government and support better tax and super experiences for all employees. John also played an active role in superannuation reform, including leading the implementation of SuperStream and a number of other superannuation reform initiatives including online superannuation account consolidation. John is a passionate Movember ambassador and fundraiser for men’s health initiatives. John holds a Masters of Taxation from the University of NSW and is based in Canberra.

The Australian Taxation Office (ATO) has threatened hefty fines to individuals providing false or misleading information to meet the eligibility criteria for early release of superannuation under the coronavirus assistance scheme. - ਆਸਟ੍ਰੇਲੀਅਨ ਟੈਕਸ ਆਫ਼ਿਸ ਨੇ ਚੇਤਾਵਨੀ ਦਿੱਤੀ ਹੈ ਕਿ ਸਰਕਾਰ ਦੁਆਰਾ ਨਿਰਧਾਰਿਤ ਯੋਗਤਾ ਜਾਂ ਸ਼ਰਤਾਂ ਪੂਰੀਆਂ ਕੀਤੇ ਬਗੈਰ ਆਪਣਾ ਸੁਪਰ ਵਾਪਿਸ ਲੈਂਦੇ ਲੋਕਾਂ ਨੂੰ 12,000 ਡਾਲਰ ਤੋਂ ਵੀ ਵੱਧ ਦਾ ਜੁਰਮਾਨਾ ਕੀਤਾ ਜਾ ਸਕਦਾ ਹੈ।

Working from Home: Opportunities and Risks is a new briefing paper from Alison Pennington and Jim Stanford from the Centre for Future Work at the Australia Institute. Economics Explained host Gene Tunny interviews Alison regarding the paper in this episode. Alison Pennington is Senior Economist with the Centre for Future Work. Her research focus is on work in Australia today, and in the future. She received a Master of Political Economy from the University of Sydney. Her research focus was on the Australian finance system, housing and inequality. Her twitter handle is @ak_pennington.TimestampsUse these (approximate) timestamps to jump right to the highlights:5:40 – productivity impacts discussion8:30 – how social isolation can impair cognitive ability12:00 – discussion of the view expressed in the paper that “working from home will likely become more common in coming years. For millions of workers, indeed, it will become the ‘new normal.’”16:30 – how workplaces can adapt – an end to hot-desking, a return to pods, and staggered start times28:05 – discussion of employee surveillance by employers – 70% of employees subject to at least one type of digital surveillance and there is a risk this can extend into people’s homes if working from home becomes the new normal32:20 – reference to how the Australian Taxation Office (ATO) has tried to make working from home easier (check out the ATO page Working from home during COVID-19)

Many people are working from home for the first time, thanks to the COVID-19 pandemic. Aside from a potential increase in procrastination (find out more in our MICP episode being released this Friday), the Australian Taxation Office (ATO) are making it easier to claim your working from home expenses for during this pandemic period.   This week’s bonus episode of the Make It Count Project’s COVID-19 Collection is for anyone currently working from home and who wants to know about how you make the most of your at home expenses on your next tax return.   Ask a question or give us an idea for our next podcast by contacting Nick at nick@walkerhill.com.au   Shout out to the people who have helped make this podcast happen. Fearless Motion for music, Dan Sugars Audio for podcast training and Hannah Clare for post-production.

Welcome to Finance and Fury, The Say What Wednesdays Edition – Where each week we answer your questions Today's question comes from Cameron We are a couple, both aged 30 with approx 70k in each of our super accounts. We are interested in SMSFs with a view to purchasing property. How would one get started? What sort of costs are expected? Do couples pool their super? Buying Property in an SMSF   First, you need a SMSF – self-managed super fund An SMSF is a private superannuation fund, regulated by the Australian Taxation Office (ATO) that you manage yourself.  All other funds are managed by APRA - Australian Prudential Regulation Authority - the regulator of financial organisations (Banks and supers) SMSFs can have up to four members. All members must be trustees (or directors, if there is a corporate trustee) and are responsible for decisions made about the fund and compliance with relevant laws Two types of SMSF – Pooled and Segregated – Most are pooled for simplicity – where you can pool your funds together for the purchase of the same asset – i.e. a property – Still have individual member benefits – where your component of the super is allocated to you When you run your own SMSF you must: Carry out the role of trustee or director, which imposes important legal obligations on you Set and follow an investment strategy that is appropriate for your risk tolerance and is likely to meet your retirement needs Have enough time to research investments and manage the fund, keep comprehensive records and arrange an annual audit by an approved SMSF auditor Organise your own insurance Use the money only to provide retirement benefits. Who is it appropriate for? Large Combined balances Hands-on – and willing to take on trustee burdens Wanting to buy property You can get Direct shares or Term Deposits in other super accounts which aren’t SMSF Who sets this up? Accountants normally are the ones that would help to set up an SMSF, however, they would probably need to have a limited AFSL to do so. Depending on what they charge (which can vary) and the structure of the trustee, the costs can range from $2,000 to $4,000. This is then similar each year for the audits and returns to be completed. Given a combined balance of around $140,000, the ongoing administration costs would be over 1.5% p.a. which may hurt the long term performance. This is why ASIC have a benchmark of $200,000 for combined funds at which point SMSFs become more viable due to the accounting costs.   Buying the Property: Must meet sole purpose test – Provide retirement benefits to members Must not be lived in by a member or related party (family) Must not be acquired from a related party of a member Must not be rented by a fund member, or related party BUT – Business real gets around these rules Business real – if you own and run a business you can operate out of a property your SMSF owns You pay rent to the SMSF at market rates – Arm's length transactions Property purchased with a loan – Limited Recourse Borrowing Arrangement (LRBA) Borrowing or gearing your super into property involved very strict borrowing conditions - called a 'limited recourse borrowing arrangement'. You can only purchase a single acquirable asset with a limited recourse borrowing arrangement Bare Trust – Set up to own property – And the trust is inside the SMSF Has the loan so that the property it the sole collateral of the loan Property has to be single acquirable asset No change of character to property - You can't make alterations that change the character of the property until you pay off the SMSF property loan. Not suitable for developments, renovations etc. The deposit requirements for property also are around 20-25% of the purchase price and there are only two lenders in Australia which provide a mortgage inside of an SMSF. Due to Bare trust - Geared SMSF property risks include: Liquidity requirements – This is where the Investment Strategy of an SMSF needs to specify the cash balance requirements and that the contributions into the SMSF can cover the mortgage repayments (in case the property is not tenanted for an extended period. Depending on age – ranges from 10-15% at lower end to 40% in cash balance Higher costs – SMSF property loans tend to be more costly than other property loans. Cash flow – Loan repayments must come from your SMSF. Your fund must always have sufficient liquidity or cash flow to meet the loan repayments – Employer contributions Hard to cancel – If your SMSF property loan documents and contract aren't set up correctly, you can't unwind the arrangement. You may have to sell the property, potentially causing substantial losses to the SMSF. Possible tax losses – You can't offset tax losses from the property against your taxable income outside the fund.   When it works well Decent balances – ASIC guidelines of $200k minimum – technically no minimum – but makes it viable The more the better – Flat fees of $2k p.a. plus investment costs Can Diversify into other investments Comes back to having enough to spread it around Have other sources of income inside SMSF to offset deductibility – if the property is slightly negatively geared The property: Commercial real – own it yourself and lease it to yourself What Won't work – Risks of Buying property Property is heavily negatively geared Deductions are lost if no additional income earned by SMSF to offset it Also, the maximum rate of tax is 15% for accumulation Not much in super – the only asset is a property Not diversified The big risk to your retirement balances Not making lots of contributions Sometimes the property income won't cover costs Need to have an employer or personal contributions to meet cashflow requirements Need to renovate - Cant make changes to the property until the loan is paid off If you need to renovate you will be stuck Hard to wind up SMSF Loan documentation (if not set up properly) would require the sale of the property before SMSF can be closed If you are looking at doing it, seek advice! One thing not to muck up your retirement Thanks for the question – Don’t forget that these episodes are open to anyone who has a question – go to www.financeandfury.com.au and get in touch through the contact page!        

The KPMG Tax Now podcast series offers you unparalleled access to key analysis and discussion.In recent years, Fringe Benefits Tax (FBT) has enjoyed a hiatus from large-scale regulatory change and attention from the Australian Taxation Office (ATO).However, with the 31 March 2019 FBT year-end fast approaching, there have been a number of technical developments, and new guidance has been released.KPMG Employment Tax partners Hayley Lock and Nathan Hamilton, along with Senior Manager Stacey Biggar, explore some of the recent technical changes and share insights on how FBT processes can be automated.

The Black Economy Taskforce estimates that the black economy is costing the Australian community as much as $50 billion, which is approximately three percent of Gross Domestic Product (GDP). In order to better protect the economy, the Australian Taxation Office (ATO) introduced the Taxable Payments Reporting System (TPRS) for businesses providing security, investigation or surveillance services as of July 1st, 2019. To help us understand how the TPRS scheme works, who it effects and what people need to do, we spoke with Marcus Chew, Director of TRPS at the Australian Taxation Office.

New international data sharing agreements are allowing the Australian Taxation Office (ATO) to track money across borders and identify individuals not meeting their obligations. The A-T-O is asking taxpayers receiving foreign incomes to make sure they report it this tax time. They are concerned about Australians who are unsure about how the system works. - নতুন আন্তর্জাতিক ডাটা শেয়ারিং এগ্রিমেন্ট অনুযায়ী অস্ট্রেলিয়ান ট্যাক্সেশন অফিস (এ-টি-ও) কোনো ব্যক্তির বিদেশী আয় খুঁজে বের করতে পারবে এবং তারা যদি তা প্রকাশ না করে তবে সেটাও চিহ্নিত করতে পারবে। এ-টি-ও করদাতাদের বলেছে যে, তাদের যদি বিদেশে আয় থাকে তবে তারা যেন এটা ট্যাক্স-টাইমের সময়ে রিপোর্ট করে।

New international data sharing agreements are allowing the Australian Taxation Office [[ATO]] to track money across borders and identify individuals not meeting their obligations. - توافق های بین المللی جدید، برای اداره مالیات استرالیا این امکان را فراهم کرده است تا پول ها را در خارج از مرزهای استرالیا رهگیری کند تا اطمینان حاصل کند که افراد به تعهدات مالی خود عمل می کنند.

Are you already an Amazon seller and interested in learning how to sell on Amazon in Australia? Or are you just starting and want to know what it really takes to become successful? If you’re looking to build your business to a global scale, Australia is a great market for you to dive into. Today Hamish Conway joins us to talk about the ins and outs of selling on a global scale and how to make the Australian Marketplace work for you! Hamish Conway graduated from the University of Otago with education in marketing, economics, and accounting. In 2013, he started selling on Amazon internationally. Within one year he was making seven figures! Now, along with partner Sophie Howard, he runs Sell Global. They are dedicated to helping entrepreneurs launch their products around the world exporting through Amazon. Outline of This Episode [1:10] Kevin introduces his guest, Hamish Conway [4:10] How does the Australian marketplace compare to the US? [9:30] Why you should stake your claim in Australia [11:35] Amazon’s beginnings in Australia [19:00] Hoops to jump through to sell [25:00] How to register your company [30:00] Tips to launch in Australia [34:10] Where to get more information! How does the Australian Marketplace compare to the US?  Amazon officially launched its Australian version of the website on December 5th, 2017. Even though Australia has the same landmass, it has a much smaller population than the US, coming in at approximately 24.6 million—the US is approximately 326.6! So Australia has a smaller marketplace, but also fewer sellers and less competition. If you’re a resident in Australia you know that their biggest online marketplace is eBay. Whereas Amazon dominates the marketplace in the US. Last year, eBay boasted 68 million visits to their website in a single month, with Amazon trailing at 11 million. But Amazon is slowly making progress towards catching up, growing at approximately 11 million visits a month since May of last year. Keep listening as Hamish and Kevin discuss the upside of the growing Australian market. Why you should stake your claim in Australia Australians are familiar with Amazon.com and approximately 500 million dollars in sales on the site come from Australia! Now, with the launch of Amazon.com.au just a couple of years ago, Amazon is looking to change the game and offer a better customer experience. Now with fulfillment warehouses in-country, delivery times are shortened and more products are available. As a seller, this is the prime time for you to grow into global sales. Sponsored ads became an option on Google in June, whereas previously the only way to drive traffic to your business was your personal network or database. This is a huge step for Australian marketing, and it’s now easier than ever to rank on the first page if you know what you’re doing.  Australian Ecommerce is growing at 1.3 billion dollars a year—isn’t that a market worth diving into?! Amazon is currently only charging $6.99 AUD for its Prime membership (less than $5.00 USD!), working hard to drive traffic to their site. Listen to the episode as Hamish and Kevin talk in-depth about the long-game Amazon is playing in growing their business—and yours—in Australia. Hoops you may need to jump through to sell on Amazon in Australia Of course, any good business starts with thorough research of the products you’re looking to sell. Is it something the market is looking for? Can you obtain good margins on the product? As you ask yourself these questions, you also want to consider how much product to start with. Hamish suggests starting small with 10-20 skews, maybe 5-10 units of each. By starting small and seeing what sells, you save yourself the change of losses. If your sales begin to approach, say, 75k a year, then it’s time to apply for an Australian Business Number (ABN). You’ll also need to register for Goods and Services Tax (GST). About 1/11th of the sale price of any item has to be paid towards the Australian Taxation Office (ATO). Hamish says that the hardest part is importing your goods into Australia. Keep listening as the details of setting up an ABN, GST, and the importing process is covered—this is something you do not want to miss! How to sell in Australia: start small and build momentum Launching your business in Australia is similar to launching in any other country. You want to leverage social media, pay per click (PPC) advertising, and even take advantage of offering lightning deals. At this point, it should not be hard for you to rank on Google for your product and start building your sales. Hamish also recommends diversifying and considering selling on eBay or Catch as you start to grow your Amazon sales. Since eBay still has more traffic, it’s a valid option to bring in revenue as Amazon.com.au continues to grow. Hamish covers some tips for utilizing Fulfillment by Amazon (FBA) as well as current trends in goods sold—listen to this episode of Maximizing Ecommerce for the juicy details! Resources & People Mentioned Sell Global Amazon—Australia Dolman Bateman Accounting FBA Prep Australia Pro Prep and Fulfillment Australian Business Number (ABN) Connect with Hamish Conway Sellglobal.co.nz hamish@sellglobal.com.nz Linkedin Connect With Kevin Sanderson www.YouTube.com/maximizingecommerce www.Facebook.com/maximizingecommerce www.Twitter.com/maxecom Subscribe to Maximizing Ecommerce onApple Podcasts, Google Podcasts, Spotify, Stitcher, PlayerFM

Marek Rucinski is the Deputy Commisioner leading the Smarter Data Program at the Australian Taxation Office (ATO). Marek has taken part and driven the evolution and transformation of Marketing, Analytics, Data and Digital capabilities for over 20 years. This has been done in both industry roles and consulting services capacity, across Australian, Asian and Global clients, across Retail, Telco, Consumer Goods, Financial Services, Mining & Utilities sectors. His passion centers on helping clients change the role of Marketing & Analytics capabilities in Digital and Data age, from activating the capability through acting on insights, to transforming customer experience and the whole business via delivering value across business functions. Prior to ATO & Accenture, Marek lead and created analytics functions and teams in a Retail industry, and developed global corporate strategy frameworks and analytics in a multinational organizations. In this episode, Marek tells us about how he was always interested in the science behind marketing. Marketing as a discipline has been completely transformed due to the emergence of data as a driver for engagement with the customer. Marek is not a classically trained data scientist; he is a data strategist and can dive deep into the organization’s needs in order to drive value to the customer. Marek tells us how some businesses can struggle with how to handle the findings of research from data scientists. It is essential to translate the potential into targets to create the prize. Leave the ego at the door and find the ability to be critiqued. Later, Marek tells us how educating businesses on analytics as a mechanical process is essential for them to perceive how the whole thing works. He then explains his transition from consulting to government and how his excitement lies in the play with analytics at an enormous scale. Then, Marek describes how to have each section of the value chain working with purpose and precision. Data has to be trusted, organized, and accessible for the company. A data strategist must consider how the data is being delivered to their client. You want to create products and interactive experiences for the business as opposed to simple spreadsheets. Finally, Marek answers the audience’s questions including what makes a good data scientist and current challenges in the data science industry. Resources: Marek’s LinkedIn: https://www.linkedin.com/in/rucinskimarek/ Now you can support Data Futurology on Patreon! https://www.patreon.com/datafuturology Thank you to our sponsors: UNSW Master of Data Science Online: studyonline.unsw.edu.au Datasource Services: datasourceservices.com.au or email Will Howard on will@datasourceservices.com.au Fyrebox - Make Your Own Quiz! And as always, we appreciate your Reviews, Follows, Likes, Shares and Ratings. Thank you so much for listening. Enjoy the show! --- Send in a voice message: https://anchor.fm/datafuturology/message

Warwick Graco is the Senior Director of Data Science at the Australian Taxation Office (ATO). He has worked in defence, health, and taxation and has been involved in analytics for 25 years. He is a practicing analytics professional and is currently convenor of the Whole of Government Data Analytics Centre of Excellence and is a senior data scientist in Data Science and Special Acquisition Group of the Smarter Data Program of the ATO. He has a BSc from the University of New South Wales and a Ph.D. from the University of New England Australia. His professional interests include organisational innovation and learning, organisational decision making and analytics. In this episode, Warwick tells us how he got started in data research the skills gained that led him to his successes today. Warwick explains why transparency is a business requirement for software and tools in the data science field. People with more analytical backgrounds will be more willing to accept an opaque solution over a transparent solution. When analytics was in the early stages, some organisations pushed back from data science; feeling they were on top of their portfolio and did not need any outside resources. No matter what results Warwick would come up with for these organisations, they would continue to have the same attitudes. Since 2010, there has been a shift in attitudes because data science has shifted from the background to the foreground. Then, Warwick tells us the difference between good support and lousy support in the workplace. While Warwick was working with organisations, instead of providing results, he did the reverse. Ask the organisation what they want rather than telling them the findings. Providing the outputs clients wish to see led to incremental improvements built into their business intelligence reports. Warwick also explains why you can no longer be a data scientist; you will need to learn and master the domain of your work. For instance, Warwick learned everything about ophthalmology while working on data science with an ophthalmologist. Later, Warwick explains his process of publishing research, improving privacy concerns, and automated supports. Enjoy the show! Show Notes: • [02:20] How Warwick started in data science • [05:55] Aptitude for research • [08:40] Purpose-built software + decision trees • [12:20] Accepting opaque solutions vs. transparent solutions • [16:45] Pushback of data analytics • [21:15] Difference between good support and bad support on the job • [25:25] Necessity to learn the domain first • [29:00] How to learn on the job • [32:20] Process of publishing research • [41:50] Improving legal and privacy concerns • [44:25] Automated support + decision-making operations • [52:40] Developing an analytical + practical mindset • [58:10] Hyperspecialized • [64:30] Moving toward data + analytics as a service • [66:25] Advice from Warwick Now you can support Data Futurology on Patreon! https://www.patreon.com/datafuturology Thank you to our sponsors: UNSW Master of Data Science Online: studyonline.unsw.edu.au Datasource Services: datasourceservices.com.au or email Will Howard on will@datasourceservices.com.au Fyrebox - Make Your Own Quiz! And as always, we appreciate your Reviews, Follows, Likes, Shares and Ratings. Thank you so much for listening. Enjoy the show! --- Send in a voice message: https://anchor.fm/datafuturology/message

Did you ever get a letter from the Australian Taxation Office (ATO) and struggled to decipher the technical jargon and legal language?  Simon Paton is changing this!  Simon talks to us about the strategic shift for the ATO to reinvent itself.  A key part of this is building better relationships with taxpayers and other community groups.  His work to improve written communication of ATO decisions is making a difference – one microlesson at a time. Hosts: Karen Moloney &  Michelle Ockers  Producer: Amanda Ashby Guest: Simon Paton Resources: ATO strategic direction https://bit.ly/2NAI2RB  Maximising Microlearning https://bit.ly/2QK5i1z More Episodes & Info More episodes: https://learninguncut.libsyn.com   About Learning Uncut: https://learningexperts.com.au 

Welcome to Finance and Fury, 'Say What Wednesdays' where each week we answer your questions.  This week's question is from Sandeep: “Hi, Can you please talk about how to purchase investment property using my superannuation?” Thanks Sandeep, great question! Buying property in superannuation First you need a Self-Managed Superfund (SMSF) An SMSF is a private superannuation fund, regulated by the Australian Taxation Office (ATO) that you manage yourself.  All other funds are managed by the Australian Prudential Regulation Authority (APRA) - the regulator of financial organisations (Banks and superannuation funds) SMSFs can currently have up to four members. All members must be trustees (or directors, if there is a corporate trustee) and are responsible for decisions made about the fund and have to adhere to compliance with relevant laws/ Superannuation Industry Supervision (SIS) Act When you run your own SMSF you must: carry out the role of trustee or director, which imposes important legal obligations on you set and follow an investment strategy that is appropriate for your risk tolerance and is likely to meet your retirement needs You need to have enough time to research investments and manage the fund, keep comprehensive records and arrange an annual audit by an approved SMSF auditor Organise your own insurance Use the money only to provide retirement benefits. Who is it appropriate for? Those wanting to combine individual superannuation balances Those who are hands-on Those looking to buy property You can get Direct shares or Term Deposits in other super accounts which aren’t available within SMSF Buying the property The property must meet the ‘sole purpose test’ – and only provide retirement benefits to members Must not be lived in by a member or related party (family) Must not be acquired from a member or related party Must not be rented by a fund member, or related party BUT – the exception is business real property Must meet the business real property definition – if you own and run a business you can operate out of a property your SMSF owns Your SMSF generates an income as you pay rent to the SMSF at market rates – must adhere to definition of ‘Arms-length’ transactions Property purchased with a loan – limited recourse borrowing arrangement (LRBA) Bare Trust – A separate legal structure which protects the members of the fund, set up inside the SMSF in order to borrow on behalf of the superfund. The property it the sole collateral for the loan and any other assets owned by the superannuation fund are protected Property has to be a ‘single acquirable asset’ Not able to change the character of the property (can’t subdivide or renovate it while there is a loan attached to it)   When it works well When you have a decent balance – ASIC guidelines say a minimum of $200,000, however the more the better – you’ll incur flat fees of $2,000 p.a. plus investment costs The more you have the more you’re able to diversify into other investments. This comes back to having enough to spread around. There’s a great deal of additional risk with a lack of diversification. Don’t put all your eggs in one basket. The property: Commercial real, especially if you have your own business – own it yourself and lease it to yourself. Super only pays 15% tax too! What won’t work – The risks of buying property If the property is heavily negatively geared Deduction are lost if no additional income is earned by SMSF to be offset by the deductions Also, maximum rate of tax is 15% for accumulation Not much in super – only asset is a property Non-adherence with the fund investment strategy; liquidity requirement, meeting diversification requirements Big risk to your retirement balances Not making a lot of contributions Sometimes the property income won’t cover costs; auditing costs, accounting costs, interest repayments etc Need to have employer or personal contributions to meet cashflow requirements Can’t make changes to the property until the loan is paid off If you need to renovate for any reason, you will be stuck It can be hard to wind up an SMSF Loan documentation (if not set up properly) would require the complete sale of the property before SMSF can be closed If you move overseas and become a non-resident you can’t have an SMSF Additional rules, like the in-house asset test If you are looking at doing it, seek advice! Don’t stuff up your retirement! Thanks again for the question, and remember - these episodes are open to anyone who has a question! Go to Financeandfury.com.au and get in touch through the contact page!

As we move ever so closer to the first due date with SMSFs for event-based reporting, the transfer balance account reporting (TBAR) framework within a practice has very quickly become the most topical issue for practitioners dealing with SMSFs.  With the Australian Taxation Office (ATO) indicating additional reporting being required within the TBAR for pension members with accumulation accounts, it is the impact of the technical nuances with this reporting framework that may see some practitioners come unstuck.  Whilst the ATO will take an educative approach in the early stages of rollout, the failure to effectively implement a system a process within a practice is likely to lead to inefficiencies, but also leakage of events to report in a timely manner. In this week's podcast, Aaron discusses the recent commentary about reporting accumulation phase values as part of the TBAR, the requirements for reporting 2017-18 events and how practices intend on handling TBAR within their practice moving into the new quarterly / annual reporting framework from 1 July 2018.

Exciting tax times this week, as they are every week (sarcasm intended) however, there Episode 26 is very much a listen as in this podcast Tyler discusses several of the weeks changes in detail.  It may even pique your interest as to whether or not the small business restructure is something you should be considering.  Specific items discussed in the podcast are: Companies who provide their Australian-based employees the opportunity to participate in an employee share scheme (ESS) have to meet mandatory reporting obligations to both those employees and to the Australian Taxation Office (ATO) and they are 14th of July 2016 and 14th of August 2016 respectively. The ATO has simplified the process of claiming fuel tax credits for those claiming less than $10,000 in fuel tax credits a year. From the Business Activity Statement (BAS) period ending 31 March 2016 onwards, where there is a change in the rate during a BAS period, the claim may be calculated by using the rate applicable at the end of the period. Also, to calculate the quantity of fuel purchased in a tax period, the total cost of fuel purchased may be divided by the average price per litre for the BAS period. The ATO has updated information on fuel tax credit rates that will apply from 1 July 2016.  For heavy vehicles using taxable fuel such as diesel or petrol, and travel on public roads, the fuel tax credit rate has increased to 13.6 cents per litre from 1 July 2016. For such users, as the road user charge exceeds the rate of duty paid for biodiesel (B100), there is no fuel tax credit entitlement for B100.  The fuel tax credit rate for biodiesel is 1.3 cents per litre from 1 July 2016. The ATO has released the following Law Compliance Guidelines relating to small business restructure roll-overs introduced by Tax Laws Amendment (Small Business Restructure Roll-over) Act 2016: ​LCG 2016/2 Small Business Restructure Roll-over: consequences of a roll-over LCG 2016/3 Small Business Restructure Roll-over: genuine restructure of an ongoing business and related matters. ​The ATO has reminded tax practitioners that overseas business clients may no longer be subject to GST from 1 October

Thomas Ryan, assistant commissioner of debt at the Australian Taxation Office (ATO), reveals to Mark Morris, CPA Australia's senior tax counsel, how the framework can assist individuals and businesses to manage their tax debts.

Changes in the international business environment have led to new levels of cooperation and information sharing, says Greg Williams, Deputy Commissioner of Taxation at the Australian Taxation Office (ATO).

On 16 April 2014, the Australian Taxation Office (ATO) released two new draft transfer pricing Taxation Rulings and new two draft Practice Statements, which represent the ATO’s first documented view on how the new transfer pricing laws will apply and what taxpayers need to do.