Latest news
November 16, 2022
30 November director ID deadline
The deadline for existing directors of Australian companies to obtain a Director Identification Number is 30 November 2022. All directors of a company, registered Australian body, registered foreign company or Aboriginal and Torres Strait Islander corporation (ATSI) will need a director ID. This includes directors of a corporate trustee of a self-managed super fund (SMSF)….
October 26, 2022
Shuffling the decks: 2022-23 Budget 2.0
There is nothing in this Budget that would create a UK style crisis. The stage 3 tax cuts legislated to commence on 1 July 2024 are not mentioned, and most funding initiatives appear to be a reallocation of previous Government initiatives. And, the commodity driven $54.4 billion improvement in tax receipts has largely been banked,…
August 25, 2022
FBT-free Electric Cars
New legislation before Parliament, if enacted, will make zero or low emission vehicles FBT-free. Who can access the concession and how? Electric vehicles (EV) represent just under 2% of the new car market in Australia but it is a rapidly growing sector with a 62.3% jump in new EV registrations between 2020 and 2021. Making…
August 25, 2022
Can I claim my cryptocurrency losses?
The ATO has released updated information on claiming cryptocurrency (crypto) losses and gains in your tax return. The first point to understand is that gains and losses from crypto are only reported in your tax return when you dispose of it – you sell it, convert it to fiat currency, exchange it for another type…
June 30, 2022
Appointment of Sen Mahendren as Principal at DAA
Today we are very pleased to announce the appointment of Sen as a Principal of DAA. Sen joined us in August 2012 after a 12 month graduate rotation programme in industry. After a three year stint in the Business Services team it was very apparent to us (and Sen) that his future lay in the…
June 21, 2022
Tax Time Targets
The ATO has flagged four priority areas this tax season where people are making mistakes. In general, there are three ‘golden rules’ when claiming tax deductions: You must have spent the money and not been reimbursed. If the expense is for a mix of work related (income producing) and private use, you can only claim…
June 14, 2022
What’s changing on 1 July 2022?
A series of reforms and changes will commence on 1 July 2022. Here’s what is coming up: For business Superannuation guarantee increase to 10.5% The Superannuation Guarantee (SG) rate will rise from 10% to 10.5% on 1 July 2022 and will continue to increase by 0.5% each year until it reaches 12% on 1 July…
June 1, 2022
ATO Ramps up Heat on Directors
Throughout March, the ATO sent letters to directors who are potentially in breach of their obligations to ensure that the company they represent has met its PAYG withholding, superannuation guarantee charge, or GST obligations. These letters are a warning shot and should not be ignored. The director penalty regime ensures that directors are personally liable…
March 23, 2022
DAA at The Big Meet Careers Expo
DAA will be at ‘The Big Meet Careers Expo‘ this Friday 25 March 2022. We look forward to chatting with undergrads and recent grads looking for genuine professional opportunity. Have a look at our Careers page for more opportunities at DAA.
May 14, 2021
DAA’s noteworthy points from the 2021-22 Budget
The federal treasurer, Mr Josh Frydenberg, handed down the 2021-22 federal budget (“Budget”) in Parliament on 11 May 2021. This Budget sees the federal government (“Government”) providing direct economic support for individuals, households and businesses in an effort to encourage economic recovery. DAA highlights some noteworthy points from the Budget here. Removal of Superannuation Work…
