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Notes Online Home 2023 Tax Schools Day 1 What's new for individuals
This chapter will address what’s new for individuals.The following topics are covered:
- NEW 15% additional tax for individuals with super balances above $3 million
- ATO releases NEW guidelines for claiming working from home running expenses
- NEW ATO ruling on how to determine the residency status of individuals
- Claiming deductions for charging electric vehicles – the ATO home charging rate
- Tax-effective planning for salary packaged electric cars under NEW rules
- Recent developments affecting self-education claims on the 2023 ‘I’ return
- NEW ATO guidelines provide greater CGT relief for inherited dwellings
- ATO allows more flexibility for businesses affected by flood, fire and COVID-19
- Tribunal clarifies when fitness expenses incurred by individuals are deductible
- Tribunal clarifies legal expense claims in defending actions from employment
- Downsizer contribution measure extended from 1 January 2023
- NEW ATO ‘backflip’ on payments made for the use of a person’s fame
- NEW client proof of identity and privacy obligations for tax practitioners