News in brief…4 August 2026

ATO advice and guidance; ATO update: Guidance on income tax, GST treatment of renewable energy project compensations; Strait of Hormuz closure drives largest quarterly increase in final demand since Q3 2023: ABS

ATO advice and guidance The Australian Taxation Office (ATO) is consulting on a draft legislative instrument that seeks to provide eligible food and beverage businesses with a choice of using a simplified accounting method to work out their net amounts. Legislative instrument LI 2026/30 Taxation Administration (Third Party Reporting Exemptions for Certain Transactions by Government Related Entities) Determination 2026 This instrument exempts government related entities (such as Federal...

Sign in below or register now to read the full article

Authors:

Published Date: 04 August 2026