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Challenges Galore In 2015

There are certainly a lot of challenges for 2015, including: Digital Disruption – Two years ago, Deloitte Chartered Accountants produced a report, “Digital disruption – short-fuse, big bang?” This report predicted that six different industry groups, comprising:...

Pension deeming rates to be lowered

The social security deeming rates* will be lowered from 20 March 2015 as follows: The ‘lower deeming rate’ will decrease from 2% to 1.75% for financial investments up to $48,000 for single pensioners and allowees, $79,600 for pensioner couples and $39,800 for each...

Time limits for family assistance payments

The ATO has reminded taxpayers who want to claim family assistance payments for the 2014 financial year that they must lodge a claim with the Department of Human Services (Centrelink) by 30 June 2015 to be eligible. This deadline applies to taxpayers who intend to...

ATO data matching programs

The ATO is carrying out two new data matching programs to identify non-compliance with registration, lodgement, reporting and payment obligations, i.e., looking for tax avoiders. Motor Vehicles The ATO has announced a new “Motor Vehicle data matching program” to...