Essentials Monthly Tax Update - February 2024

Stay informed with essential tax updates - legislation, significant cases, ATO docs & more. Perfect for juniors or a refresher!

This month, we cover:

• Quick updates

  • Mid-Year Economic and Fiscal Outlook 2023/24

  • Non-deductibility of General Interest Charges (GIC) and Shortfall Interest Charges (SIC)

• Deductions

  • TR 2023/D4 - Deductions for financial advice by individuals not carrying on a business

  • Meakins v Commissioner - Deduction for vacant land holding costs

• Personal services income (PSI)

  • SQYY case

• Employee vs Contractor

  • TR 2023/4 & PCG 2023/2

• Superannuation - Binding death benefit nominations (BDBN) - Basics and strategies

Date recorded: 28 February 2024