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Integrity, Innovation & Commitment

Newsletter

Key Tax Dates

21 JANUARY 2025

  • December 2024 monthly business activity statement - due date for lodgement and payment except for business clients with up to $10 million turnover who report GST monthly and lodge electronically.

Tax And Super Changes

FOREIGN RESIDENT CAPITAL GAINS WITHHOLDING CHANGES ON SALE OF PROPERTY

One of the Bills pushed through Parliament at the end of 2024 changes how capital gains withholding applies to foreign residents from 1 January 2025.

2024-2025 ATO Focus Areas

The Australian Taxation Office (ATO) has released its key areas of focus for privately owned and wealthy groups for the 2024-2025 income year.

The list is separated into foundational issues, emerging and evolving risks, and targeted focus areas.

Own an investment property or an expensive lifestyle asset like a boat or aircraft? The Australian Taxation Office (ATO) are looking closely at these assets to see if what has been declared in tax returns matches up.

The ATO has initiated two data matching programs impacting investment property owners and those lucky enough to hold expensive lifestyle assets.

Let us advise you with your accounting and taxation needs!