Welcome to the TNR Tax Alert – all of the latest tax news, views and clues for May 2022.
This Alert addresses:
- Employees vs contractors: more clarity coming – The High Court recently handed down a significant decision in a case involving the distinction between employees and contractors.
- Movement at the FBT station: COVID-19 tests, car parking – We review some of the changes to FBT, specifically regarding COVID-19 tests provided to staff and car parking benefits, that were announced in the Budget.
- ATO urges vigilance: new TFN and ABN scams – The ATO has warned about an increase in reports of fake websites offering to provide tax file numbers and Australian business numbers for a fee.
- Federal Budget fuel excise reduction: will all businesses benefit? – The uncertainty around fuel availability has seen fuel prices soar across Australia. The recent Federal Budget proposed an answer via a temporary (six-month) fuel excise reduction.
- ATO’s COVID-related support for SMSFs – The ATO is offering support and relief to SMSF trustees for the 2019–2020, 2020–2021 and 2021–2022 income years.