The Australian Taxation Office (ATO) has announced that it has finalized Practical Compliance Guideline PCG 2021/4 Allocation of professional firm profits – ATO compliance approach, replacing old guidelines that were suspended.
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Guidance for allocation of professional firm profit and income
We've finalised Practical Compliance Guideline PCG 2021/4 Allocation of professional firm profits – ATO compliance approach, which applies from 1 July 2022. It sets out our compliance approach to t…