News in brief… 6 September 2023

ATO advice and guidance; Legislation update: Modernising business communications bill passes parliament; Legislation update: Bills to establish new accountability regime pass parliament; Department of Climate Change to review policy options on CBAM ‘carbon leakage’; Queensland Government publishes report on pandemic household spending, small business survival; Household spending falls in July as goods spending records largest fall since 2021: ABS; June quarter capex rises on business investment into equipment and buildings: ABS

ATO advice and guidance The Australian Taxation Office (ATO) released its latest advice and guidance on Wednesday 6 September, which includes a taxation determination, guide, product ruling, erratum, two class rulings, and five addenda. Taxation determination TD 2023/5 Income tax: aggregated turnover and connected entities – Commissioner’s discretion that an entity does not ‘control’ another entity This Determination provides guidance on the specific issues that have emerged from the Co...

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Published Date: 06 September 2023