The Australian Taxation Office (ATO) has issued Taxpayer Alert TA 2024/1, raising concerns over the legitimacy of early-stage investor tax offset claims, especially in cases where shares have been acquired through circular financing arrangements. This alert highlights an important issue for investors claiming tax offsets on investments in early-stage innovation companies (ESICs). The ATO’s Concerns […]

The Australian Taxation Office (ATO) has released Miscellaneous Taxation Ruling MT 2024/1, which clarifies the time limits that apply to claiming input tax credits and fuel tax credits. Key Points from MT 2024/1 The ruling outlines the ATO’s interpretation of the four-year entitlement period, as set out in: Under these limiting provisions, a business loses