Corporate Tax Update

ATO Updates: Interest Deductions and Key Trust Risks

Leave a Comment / Tax, Tax Planning /

The Australian Taxation Office (ATO) and recent tribunal decisions continue to shape the tax landscape for individuals, businesses, and trustees. For tax professionals and business owners, staying across these developments is critical — particularly with compliance season approaching. At Boa & Co. Chartered Accountants, we’ve summarised the most significant updates you need to know: 1. […]

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CGT Rollover Relief: What the AusNet Decision Means for You

Leave a Comment / Capital Gains Tax (CGT) /

In a significant ruling by the Full Federal Court – AusNet Services Limited v Commissioner of Taxation [2025] FCAFC 21 – the Court has dismissed the taxpayer’s appeal and confirmed that a valid Capital Gains Tax (CGT) rollover election was made under Division 615 of the Income Tax Assessment Act 1997. This case provides valuable

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ATO Update: Key Insights from the Division 7A Case

Leave a Comment / Tax, Business Tax /

The ATO has officially responded to the Full Federal Court’s recent decision in Commissioner of Taxation v Bendel [2025] FCAFC 15, a ruling that has sparked significant interest across the accounting and private business sectors. This case dealt with the treatment of unpaid present entitlements (UPEs) from trusts to private companies and whether these should

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MYEFO 2024-25: Key Updates on Corporate Tax Matters

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The Australian Government has announced several corporate tax-related changes in the 2024-25 Mid-Year Economic and Fiscal Outlook (MYEFO). These updates impact R&D tax incentives and film production tax offsets, shaping the financial landscape for businesses in affected industries. 1. Changes to R&D Tax Incentive Eligibility From 1 July 2025, businesses involved in gambling and tobacco-related

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ATO Targets Division 7A Risks in Private Company Guarantees

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New Taxpayer Alert and Draft Determination Aim to Close Loopholes The Australian Taxation Office (ATO) has issued new guidance on Division 7A of the Income Tax Assessment Act 1936 (Cth), focusing on private company guarantee arrangements that may circumvent deemed dividend rules. This includes Taxpayer Alert TA 2024/2 and Draft Taxation Determination TD 2024/D3, both

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