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6 days ago · News and intelligence for Australian Accountants, focusing specifically on issues and industry developments of significance to the accounting profession
Main residence exemption myths and misconceptions
When it comes to taxation, the family home is sacred. It is often the largest asset a taxpayer will own, and we all know that the family home is exempt from capital gains tax (CGT).This perception has caused many governments to remain gun shy about making changes that would lessen the generous concession available to homeowners; the main residence exemption (MRE).
The year the accountant shortage got worse | Accountants Daily
Jan 23, 2024 · The ABS forecast that Australia would require 338,362 accountants by 2026 – almost 10,000 extra a year. A study by recruitment firm People2people found almost half (46 per cent) of accounting teams needed personnel with 6 per cent “significantly short-staffed”. This dearth was only made worse by reports of those in the profession also ...
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The survey also found that firms that work with tech-advanced clients see boosts in efficiency, strategic advisory, and client communication. To succeed as an accountant today, it is important to have both traditional accounting... 27 November 2024. Live - 2:00pm•60 minutes. Register now to watch the live webcast.
ATO changes interpretation around commercial debt forgiveness …
The ATO has taken a “complete backflip” with commercial debt forgiveness rules, with its draft tax determination ruling that a creditor must be a natural person to forgive a debt for reasons of natural love and affection. Last week, the Commissioner of Taxation released Draft Taxation Determination 2019/D9, close to eight months after it ...
ATO releases revised WFH expense claims guidance
Nov 2, 2022 · Revisions to the work-from-home rules reduce the shortcut or fixed-rate allowance from 80c an hour to 67c but allow additional claims for equipment and other expenses, the long-awaited ATO guidance reveals. Effective from 1 July 2022 – when the previous pandemic inspired provisions ended – PCG 2022/D4 sets out the ATO’s post-COVID regime ...
Podcasts - Accountants Daily
6 days ago · Forging successful partnerships with brokers. Parras & Associates accountant Nick Parras and Pristine Finance broker Marinko Radomir share how working together... 11 October 2024 • By Jessa Sargento. LISTEN.
Latest Accounting News - AccountantsDaily | Accountants Daily
Oct 17, 2024 · 9. 10. "Given the reported facts this is a disgraceful appeal by the ATO. Indeed, it should never have got... ""Accounting firms were also dealing with labour market pressures and skills shortages with... "I too started 40 odd years ago - numbers have always spoken, but tax law has always spoken louder to... "I don't answer any questions over ...