The Australian Taxation Office (ATO) published updated guidance on 27 July 2021 concerning Transactions and taxes that attract their attention. This includes guidance in relation to:

• Bad debts
• Capital gains tax
• Commercial debt forgiveness
• Deductions
• Excise and excise equivalent goods
• Franking credits
• Fringe benefits tax
• Private assets or private pursuits in business
• Private company benefits
• R…