Newsletter
February 2017 Newsletter
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ATO priority on settling cases - but not at any cost
The ATO has advised that it places a high priority on resolving tax disputes early, including through reaching settlements where appropriate...
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ATO develops work-related expenses risk profiles
The ATO has developed work-related expenses risk profiles to help it identify how work-related expense deduction amounts compare for similar taxpayers...
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Onus on taxpayers to show no fraud or evasion: Full Federal Court
Several taxpayers have been unsuccessful in their appeals to the Full Federal Court in which they challenged tax assessments that dramatically...
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No disclaimer of trust interest: unsuccessful appeal
A beneficiary of two trusts whose assessable income was increased from some $70,000 to some $13 million in light of her entitlement to distributions from...
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Admin penalties of 75 percent for failing to lodge FBT returns
The AAT has confirmed that 75% administrative penalties were rightfully imposed on several companies for their failure to lodge FBT returns...
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New ATO data-matching program: ride-sourcing
The ATO has announced a new data-matching program involving ride-sourcing providers. Under the program, the ATO will acquire data to identify...
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Taxation ruling on commercial website deductibility
A new taxation ruling from the ATO sets out the tax deductibility of expenditure incurred in acquiring, developing, maintaining or modifying a...
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Taxation determination on deductions for bad debts: trust beneficiaries and UPEs
In a new tax determination, the ATO states that a beneficiary is not entitled to a bad debt deduction for an amount of unpaid present entitlement (UPE)...
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Taxpayer failed to prove that payments were loans
In a recent case, the Full Federal Court has found that several taxpayer companies had not discharged the onus of proving that assessments...
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