The ATO responds to the BPFN ruling, which challenged its stringent stance on non-arm's length income (NALI) in SMSFs. While maintaining the importance of benchmarking, the ruling highlights the validity of commercial assessments in private lending schemes.

The Australian Tax Office (ATO) has released a statement outlining their priorities ahead of the end of financial year 2021/22, with crypto-assets being one of these priorities due to its rising popularity.

The ATO is offering assistance to those individuals and businesses impacted by the recent and ongoing bushfires that have impacted large parts of Australia since late 2019.