Client Alert Explanatory Memorandum (December 2017)
Consultation paper: combating phoenix activities
The Federal Government has released a consultation paper on company and tax law reforms to combat phoenix activities. Phoenixing occurs when individuals or entities strip assets from an indebted…
Client Alert (December 2017)
Consultation paper: combating phoenix activities
The Federal Government has released a consultation paper proposing company and tax law reforms to combat phoenix activities.
Phoenix activities involve stripping assets from a company that’s…
Client Alert Explanatory Memorandum (November 2017)
Compensation for ATO systems outages
After the ATO’s unplanned system outages, it provided lodgment deferrals, and remitted interest and penalties where the outages affected practitioners and their clients’ lodgments. But what about compensation?
The…
Client Alert (November 2017)
Compensation for ATO systems outages
After the ATO’s unplanned systems outages, it provided lodgment deferrals, and remitted interest and penalties where the outages affected practitioners and their clients’ lodgments.
The ATO has also…
Client Alert Explanatory Memorandum (October 2017)
Bills for increase in Medicare levy to 2.5%
The Medicare Levy Amendment (National Disability Insurance Scheme Funding) Bill 2017 has been introduced into Parliament to implement the Government's 2017–2018 Budget announcement to increase the…
Client Alert (October 2017)
Bill to increase Medicare levy
The Medicare Levy Amendment (National Disability Insurance Scheme Funding) Bill 2017 has been introduced to implement the Government's 2017–2018 Budget announcement to increase the Medicare levy by 0.5% to 2.5%…
Client Alert Explanatory Memorandum (September 2017)
Work-related expense claims under scrutiny
The ATO has warned taxpayers to avoid making incorrect claims for work-related expenses at tax time this year. This year, the ATO is using real-time data to compare taxpayers with others in similar…
Client Alert (September 2017)
Work-related expense claims under scrutiny
Will you claim work-related expenses on your tax return this year? The ATO now uses real-time data to compare people’s tax returns with others in similar occupations and income brackets. This year…
Client Alert Explanatory Memorandum (August 2017)
Tax cut for small businesses: ATO will amend returns
For the 2016–2017 income year, the company tax rate for small businesses decreases to 27.5%. Companies with turnover of less than $10 million are eligible for this rate. The maximum franking…
Client Alert (August 2017)
Tax cut for small business: ATO will amend returns
For the 2016–2017 income year, the company tax rate for small businesses decreases to 27.5%. Companies with turnover of less than $10 million are eligible for this rate. The maximum franking…