Australian Taxation Office
New or updated materials on ATO website, including:
- The ATO has released information regarding the application of GST to the "sharing economy" in two new guides, The sharing economy and tax and Providing taxi travel services through ride-sourcing and your tax obligations.
Penalty units to increase
From 31 July 2015, the value of a Commonwealth penalty unit will increase from $170 to $180, after which it will be indexed based on the CPI every three years commencing from 1 July 2018. Penalty units are relevant in the context of various tax administration penalties including late lodgment.