All of the latest tax news, views and clues for December 2023.

This Alert addresses:

  • ASIC’s new alert list offers guidance on suspicious investment “opportunities” – The latest list aims to help consumers identify whether entities they’re considering investing with could be fraudulent, running a scam or unlicensed.
  • ATO pauses “debts on hold” awareness campaign – The ATO has apologised for any “unnecessary distress” caused to taxpayers with its recent awareness campaign around tax debts that were previously put on hold.
  • Simplified payroll reporting and STP Phase 2: employers take note – STP Phase 2 doesn’t change which payments employers need to report directly to the ATO, but it does change how those amounts need to be reported.
  • $20,000 instant asset write-off for small business: beware timing – Legislation is currently before Parliament that proposes to raise the instant asset write-off amount for small business assets acquired from 1 July 2023.
  • JobKeeper assessment: Treasury report released – The report records lessons learned from the design and implementation of JobKeeper, with a view to informing future policy responses.