July 2020

If you’ve acquired vacant land (either for private purposes or as an investment) it’s usually considered a capital asset subject to capital gains tax (CGT) when you sell the land. If you purchase land for use in a business or profit-making activity that deals in land, we treat any sale… Read More »Vacant land prior years

The Australian Taxation Office (ATO) has so far received over 1.7 million individual 2020 returns, an increase of 12% for the same period last year. Assistant Commissioner Karen Foat noted that despite needing to process a record number of tax returns, tax refunds have begun arriving in bank accounts. “We saw… Read More »More than $1 billion in tax refunds paid