Tony Negline CA

The sustainability-related reporting landscape evolved at a rapid pace in 2023, highlighting the increasing demand for information from investors and stakeholders. Jurisdictions, like Australia, have also moved quickly with the release of legislation and reporting frameworks linked to national ambition and international commitments.

The ATO has finally issued a revised Tax Determination for individuals receiving financial advice. The determination details what financial advice fees can be claimed as a tax deduction when they are paid by an individual who is not operating an investment business. The financial advice community’s nirvana would be for all advice fees to be tax deductible regardless of their purpose.

On my latest trip to Ireland, I had the privilege of engaging with fellow accounting professionals. Our discussions brought to light the intriguing nuances between the tax systems of the Emerald Isle and our own Shaky Isles. Overall tax revenue Both countries’ tax systems raise a significant amount of revenue for their respective governments.