With the skyrocketing uptake of cryptocurrency among Australian retail investors, the government is seeking to change its consultation approach to the regulation of cryptocurrency assets. As a part of this new approach, Treasury will prioritise "token mapping" work as the first step in a reform agenda. This aims to identify how cryptocurrency assets and related services should be regulated. .

To simplify the process, from 1 July 2023 all SMSFs will be required to report certain events 28 days after the end of the quarter.

New ATO guidelines allow professionals with an ownership interest in their firm to self-assess the risk of their profit allocation arrangement coming under ATO scrutiny. Learn about the ATO's compliance approach and how to identify your particular risk.

Before you lodge your tax return this year, make sure you know the ATO's focus areas this tax time.

Further support for business in NSW, SA and VIC