Newsletter
July 2017 Newsletter
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Higher education HELP changes announced
The Government has announced a package of reforms to higher education – the Higher Education Reform Package – to take effect generally from 1 January 2018. Under the package the maximum...
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Draft legislation: LRBA integrity measures for pension cap
New exposure draft legislation contains integrity measures for limited recourse borrowing arrangements (LRBAs) as part of the Government’s super reform legislation...
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Deductions for super funds: major ruling update
The ATO has issued an important ruling to clarify its views on the deductions available for superannuation funds. Superannuation funds are generally restricted to...
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Bill to reduce corporate tax rate
The Treasury Laws Amendment (Enterprise Tax Plan No 2) Bill 2017 has been introduced to progressively extend the lower 27.5% corporate tax rate to all corporate tax entities by the 2023–2024 income year...
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Budget updates
Foreign owners of “ghost” property
The 2017–2018 Federal Budget announced that the Government will introduce a charge on foreign owners of residential property where the property is not...
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Transfer pricing
Chevron: interest rate on borrowing not arm’s length
In a major transfer pricing judgment, the Full Federal Court has unanimously dismissed Chevron Australia’s...
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Car expenses for transporting equipment disallowed
A taxpayer working as a stevedore has been denied a deduction for car expenses incurred in transporting equipment to and from work. The Administrative Appeals Tribunal (AAT) decided that it was not...
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Draft legislation: financial complaints and dispute resolution
As part of the 2017–2018 Budget, the Government announced that it would create a new one-stop shop for financial disputes – the Australian Financial Complaints Authority (AFCA) – to be established by...
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