Just like income tax, there is an anti-avoidance rule for GST
The GST Act contains anti-avoidance provisions that are similar to those available for income tax purposes. The rules (known as Division 165) are designed to…
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Read MoreJust like income tax, there is an anti-avoidance rule for GST
The same business test to be replaced by a “similar business” test
Among the first batch of tax legislation the government dealt with in the new year was a bill that contained changes to the “same business”…
Removing tax deductibility of ‘non-compliant’ payments
From 1 July 2019, businesses will only be able to claim deductions for payments that are made to workers (employees or contractors) when the employer has…
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…
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…