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ARTICLE · 13 APRIL 2025

End of March Weekly Tax Update

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Update on key developments in taxation law for accountants and participants in the tax advice industry.

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Tony Pointon
Tony Pointon
Andrew Pointon
Andrew Pointon
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This article provides an update on key developments in taxation law for accountants and participants in the tax advice industry up to late-March. This update in summary covers:

  1. The revised commencement dates for the 2024-25 Budget measure Strengthening the foreign resident capital gains tax regime
  2. Increased funding to the ATO to target high-risk practitioners
  3. Top500 Private Group Tax Performance program currently underway

1 - Revised Commencement Date - 2024-25 Budget Measure Strengthening the foreign resident capital gains tax regime

The 2025-26 Budget Measure has advised that the 2024-25 Budget measure Strengthening the foreign resident capital gains tax regime will have its commencement date changed from 1 July 2025 to the later of 1 October 2025 or the first 1 January, 1 April, 1 July or 1 October after the Act receives assent. This deferment is expected to provide some certainty given the forthcoming Federal election in May.

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