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Showing 1 - 10 of 106 results for "CGT"

Budget 2024: Change to foreign investment rules

ELIZA BAVIN  |  TUESDAY, 14 MAY 2024
... cultural heritage and foreign investment," Chalmers said. The government will strengthen the foreign resident capital gains tax (CGT) regime to ensure foreign residents pay their "fair share" of tax in Australia and to provide greater certainty about ...

ATO introduces trust taxation changes

ELIZA BAVIN  |  WEDNESDAY, 8 MAY 2024
... business owners who are trustees will also see changes when submitting their tax return. The ATO will add four capital gains tax (CGT) labels into the trust tax return statement of distribution. "The information contained in the statement of distribution ...

ATO targets crypto investors, sharing economy

KARREN VERGARA  |  WEDNESDAY, 17 APR 2024
... invest in cryptocurrency. Investors must remember that cryptocurrencies, like shares, can give rise to capital gains tax (CGT) on profits, he said, adding they can be taxed on their profits as business income. Cryptocurrencies include coins, tokens ...

Treasury details winners from tax concessions on super contributions

ANDREW MCKEAN  |  THURSDAY, 1 FEB 2024
... Also, the average benefit from superannuation earnings stood at $1140 for men and $760 for women. Regarding capital gains tax (CGT) discount for individuals and trusts, Treasury insights yet again indicate a trend favouring higher-income individuals. ...

Product modernisation will strengthen retirement outcomes: FSC

CHLOE WALKER  |  MONDAY, 20 NOV 2023
... investment schemes. "Outside of a successor fund transfer (SFT), whereby a whole superannuation fund is transferred to another, and CGT relief applies for all members, there is no existing, viable mechanism that enables trustees of super funds and managed ...

Labor advances super performance test changes

KARREN VERGARA  |  MONDAY, 19 JUN 2023
... clarification from their adviser," he said. Furthermore, the test will apply to closed investments on theses platforms. Because of CGT payable upon realisation, it may not be in the member's best financial interest to move out of the investment ...

BGL adds company tax return to software solution

CASSANDRA BALDINI  |  TUESDAY, 13 DEC 2022
... 360 product manager Andrew Paszko added the investment solution is in a "class of its own." "Offering investment reporting, CGT tracking, shareholder register, dividend payment, full set of financials, accounting work papers and now electronic lodgment ...

Accountants lobby for 10 budget reforms

ELIZABETH MCARTHUR  |  MONDAY, 28 MAR 2022
... platforms should be introduced to simplify GST in e-commerce; implementing Board of Taxation recommendations on small business CGT concessions; and CA ANZ wants to see draft legislation to fix the 'Backpacker Tax' and announce new arrangements for working ...

ATO cracks down on crypto

ANNABELLE DICKSON  |  MONDAY, 31 MAY 2021
... one currency is exchanged for another; if it is traded, sold or gifted; and if it has been converted to Australian dollars. CGT also applies to the disposal of non-fungible tokens. The ATO recommends investors keep records of transactions associated ...

Granny flat tax exemption to become law

ANNABELLE DICKSON  |  MONDAY, 19 APR 2021
... financial abuse. The legislation follows the budget announcement that the government would provide a targeted capital gains tax (CGT) exemption for formal granny flat arrangements. Assistant treasurer Michael Sukkar under the measure CGT will not apply ...
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