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As the debate around the fairness of the Federal Budget continues, the ATO has released some interesting insights about who is paying tax and who isn't. This month we take a look at what the state of the Australian economy looks like.

We also explore what proposed changes to CGT and the family home look like, the impending changes to R&D, and a new data matching program from the ATO.

As always, if you have any queries, contact our team on 9957 4033.

	Tax stats reveal the state of the Australian community Recently released stats from the ATO shows that Australia's tax is collected from 13.5 million individuals, 940,000 businesses, and from super funds, partnerships, and trusts. What else can it tell us about the state of Australia's community?
	CGT and the family home: Expats and foreign residents beware If you are a foreign resident living in Australia or an Australian working overseas who owns residential property in Australia, new reforms potentially have serious tax implications for you.
	Impending changes to the R&D tax incentive Scott Morrison has used an address to the AFR Banking and Wealth Summit to discuss the R&D tax incentive review., indicating that changes will be implemented to the R&D tax incentive that focus on the concept of 'R&D additionality'.
	Motor vehicle data matching The ATO has announced the commencement of a data matching program with the eight State and Territory Motor Registry authorities.
	New GST obligations for property purchasers From 1 July 2018 purchases of new residential premises or newly subdivided residential lots will be required to pay the GST amount directly to the ATO rather than to the vendor.

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Disclaimer

This article is provided for information purposes only and correct at the time of publication. It should not be used in place of advice from your accountant. Please contact us on 02 9957 4033 to discuss your specific circumstances.