Tax Deductibility
TD 2024/7 sets out the ATO's revised guidance in relation to the deductibility of financial advice fees incurred by individuals. The Practical Guide to Implementation and the Quick Reference Guide have been jointly developed with the FAAA, CAANZ and CPA Australia to assist tax practitioners and financial advisors in understanding and implementing the ATO's updated guidance. The guide contains plain language explanations, practical examples, suggested apportionment methodologies and sample invoices.