Accounting Times

1 week ago | accountingtimes.com.au | Keith Ford

CA ANZ has said it supports the federal opposition’s announcements aimed at enabling financial professionals to “support Australians to rebuild wealth”. Speaking at Momentum Media’s Election 2025 event last week, shadow financial services minister Luke Howarthreiterated the Coalition’s intention to make it easier for accountants to provide advice, particularly around SMSFs, if it were to win the election.

1 week ago | accountingtimes.com.au | Miranda Brownlee

Last week, the Federal Court issued orders in a tax case involving the sale of a parcel of land in Tarneit, referred to as Dave’s Block by the owners. For many years, the applicant in the case, David Morton, and his father Colin Morton farmed Dave’s Block and a block of adjoining land as one property, the Morton farm. After the urban boundaries of metropolitan Melbourne were expanded, the Morton farm was rezoned as residential land.

1 week ago | accountingtimes.com.au | Miranda Brownlee

In a decision last week, the Administrative Review Tribunal of Australia (ART) has affirmed a decision by the Tax Practitioners Board on an application for a tax agent registration. The applicant in the case was previously registered with the TPB as a tax agent from April 2014. This registration was subject to a business activity statement (BAS) services condition, which prevented him from preparing and lodging income tax returns for clients.

1 week ago | accountingtimes.com.au | Miranda Brownlee

The Institute of Public Accountants (IPA) has warned that introducing a standard $1,000 deduction could result in taxpayers choosing simplicity and skipping the visit with their accountant, leading to consequences in the future. The Labor government announced the $1,000 instant tax deduction on the weekend, which would enable taxpayers to choose to claim a $1,000 instant tax deduction instead of claiming individual work-related expenses, saving time and money.

1 week ago | accountingtimes.com.au | Miranda Brownlee

Chartered Accountants Australia and New Zealand (CA ANZ) has raised concerns about how the ATO tests the appropriateness of data for its data-matching campaigns following complaints about a recent mass mailout. The professional body made a range of recommendations for improving the ATO's letters and written communications in response to the review being undertaken by the Taxation Ombudsman.