Section 100A ‘reimbursement agreements’ – recapping the section, the ATO guidance and some takeaways – TR 2022/4 & PCG 2022/2

Tax Month - February 2023

In The Tax Institute’s TaxVine email [No.5, 24.2.23], their Tax Policy and Advocacy team reviews the application of section 100A of the Income Tax Assessment Act 1936 (ITAA1936) in light of the finalised ATO guidance and recent cases.   The end of the income year is approaching quickly. Practitioners and trustees will shortly be required to determine…

Working From Home (WFH) deductions – Updated ATO guidance PCG 2023/1

Tax Month - February 2023

In The Tax Institute’s TaxVine [No.4, on 17.2.23], their Tax Policy and Advocacy (TPA) team explain the ATO’s position on claiming deductions for working from home (WFH) expenses following the release of Practical Compliance Guideline PCG 2023/1 this week.      The updated guidance replaces draft Practical Compliance Guideline PCG2022/D4 and details the revised fixed rate…