Tax losses and franking offsets for corporates
Companies are not entitled to a refund of franking tax offsets, however they may be able to convert them to carried forward losses in subsequent…
Articles
Read MoreTax losses and franking offsets for corporates
Client Newsletter – March 2019
Click here for a pdf version of this article. The same business test to be replaced by a “similar business” test Among the first batch…
Regulatory Roundup – March 2019
Remember that a fuel tax credit increase has just gone through Fuel tax credit rates are indexed twice a year, in February and August, in…
What is the ‘tax gap’? And how does the ATO measure it?
Every year, the ATO measures its revenue and compares that total against the amount of revenue it should have made were every taxpayer fully compliant.…
The ATO is looking for personal services income diverted to SMSFs
The ATO has announced that it is reviewing arrangements where members of an SMSF (typically at, or approaching, retirement age) purport to divert income earned…
Single touch payroll employers to send payment summaries to myGov
From 1 July this year employers with 20 or more employees will report to the ATO in real time from their payroll software. The changeover to…
Tax incentive for angel investors in start-ups
For more than two years now (from 1 July 2016) two key tax incentives have been available for investors considering putting their money behind qualifying start-up businesses…
Guide to making motor vehicle expense claims
A perennial topic regarding tax deductions is claiming expenses for a car. The following notes summarise the most salient points when it comes to claiming…
For certain travel expense claims, the term ‘itinerant’ needs clarity
Being able to make claims for work-related travel expenses is generally an enviable deduction situation, and one that a good many taxpayers would like to…