Client Alert (December 2016)

Contrived trust arrangements in ATO sights The ATO has cautioned taxpayers against arrangements that seek to minimize tax by creating artificial differences between the taxable net income and distributable income of closely held trusts. Deputy…

Client Alert Explanatory Memorandum (November 2016)

Budget superannuation changes on the way The Federal Government has been releasing exposure draft legislation intended to give effect to most of its 2016–2017 Budget superannuation proposals. The first and second tranches of exposure drafts…

Client Alert (November 2016)

Budget superannuation changes on the way The Federal Government has been consulting on draft legislation to give effect to most of its 2016–2017 budget superannuation proposals. Here are some of the key changes. Deducting personal contributions All…

Client Alert Explanatory Memorandum (October 2016)

Personal middle income tax rate cut on the way The Treasury Laws Amendment (Income Tax Relief) Bill 2016 (the Bill) has been introduced in the House of Representatives. It proposes to amend the Income Tax Rates Act 1986 to increase the third…

Client Alert (October 2016)

Personal middle income tax rate cut on the way The Federal Government has introduced a Bill which proposes to implement its 2016 Budget proposal to increase the third personal income tax threshold that applies to personal income taxpayers.…

Client Alert Explanatory Memorandum (September 2016)

Share economy participants reminded of tax obligations The ATO has reminded tax professionals to consider clients who may be involved in the share economy. Some individuals may not be aware they have tax obligations when earning income through…

Client Alert (September 2016)

Share economy participants reminded of tax obligations The ATO has reminded people who earn income in the share economy that they have tax obligations. The type of goods or services you provide, and how much you provide, will determine what…

Client Alert Explanatory Memorandum (August 2016)

CURRENCY: This issue of Client Alert takes into account all developments up to and including 13 July 2016. ATO small business benchmarks updated The ATO has announced the latest benchmarks for small businesses, updated for the 2013–2014…

Client Alert (August 2016)

ATO small business benchmarks updated The ATO has announced the latest benchmarks for small businesses. Based on the data from 2014 income tax returns and business activity statements, the benchmarks cover over 1.3 million small businesses. ATO…

Client Alert Explanatory Memorandum (June 2016)

CURRENCY: This issue of Client Alert takes into account all developments up to and including 27 April 2016. Tax incentives to promote innovation The Government has released draft legislation to implement more of the tax incentive measures…