Newsletter
March 2016 Newsletter
Government proposed tax relief for small businesses that are under restructuring
As small business develops over time, its initial legal structure may no longer be suitable for the business. With this in mind, the Government has proposed amendments to the law to provide tax relief for small businesses that restructure on a genuine basis...
read more
ABR started cancelling trust ABNs that are no longer carrying on business
According to the ATO, Registrar of the Australian Business Register (ABR) will start cancelling the Australian Business Numbers (ABNs) of approximately 220,000 trusts...
read more
Car expense deductions for individuals simplified
Employers who pay their employees a car allowance need to withhold tax on the amount they pay over 66c per kilometre...
read more
ATO requests travellers with student debts to update contact details
Australians with a Higher Education Loan Programme (HELP) debt and/or a Trade Support Loans (TSL) debt who are moving overseas for longer than six months will need to provide the ATO with their overseas contact...
read more
Small business tax concession refused as threshold test failed
The small business capital gains tax (CGT) concessions contained in the tax law allow eligible small businesses to access tax concessions on capital gains...
read more
Wildly excessive tax deduction claims refused
A professional sales commission agent has been largely unsuccessful before the Administrative...
read more
GST credits not available for payments on behalf of super funds
The ATO has issued GST Determination GSTD 2016/1, which provides the Commissioner’s view on whether employers can claim input tax credits...
read more