Client Alert (December 2015)
Tax negotiation limited to known debt amounts
Two company taxpayers have been unsuccessful before the Federal Court in seeking to set aside statutory demands issued by the ATO.
The matter essentially involved two individuals who carried…
Client Alert (November 2015)
Unbundling phone and internet expense claims for work purposes
Individuals can claim deductions for mobile, home phone and internet expenses that have been incurred for work purposes. However, correct apportionment for work use is a key issue.…
Client Alert Explanatory Memorandum (October 2015)
This issue of Client Alert takes into account all developments up to and including 17 September 2015.
Excessive deduction claims on holiday homes on ATO hit list
The ATO is increasing its focus on holiday home investors and, in particularly,…
Client Alert (October 2015)
Excessive deduction claims on holiday homes on ATO hit list
The ATO is increasing its focus on holiday home investors and, in particular, whether they are correctly claiming deductible expenses. A key concern is when people make claims for…
TaxWise Business September 2015
Small business Budget measures now law
The following small business tax measures announced in the 2015-16 Federal Budget have passed into law:
Company tax rate cut - The tax rate for companies with an aggregated annual turnover of less…
TaxWise Individual September 2015
Personal income tax cuts repeal
As part of the introduction of the carbon tax, two rounds of personal income tax cuts were to occur. The first round commenced on 1 July 2012. However, the second round of personal income tax cuts, scheduled…
Client Alert Explanatory Memorandum (September 2015)
Small business tax discount on the way
The Tax Laws Amendment (Small Business Measures No 3) Bill 2015 (No 3 Bill) was introduced in the House of Representatives on 24 June 2015.
The No 3 Bill proposes to provide a tax offset (the small…
Client Alert (September 2015)
Small business tax discount on the way
In a surprise – but welcome – move in the 2015 Federal Budget, the Government announced a small business tax discount. The Government said that, with effect from 1 July 2015, individual taxpayers with…
Client Alert (August 2015)
Work-related and rental property claims on ATO’s watch list
Tax time is in full swing and the ATO has highlighted areas of concern for individuals ahead of tax return lodgment time. High on the ATO’s watch list is work-related expense claims…
General Tax Planning - Pre 30 June 2015
Another financial year has almost come to an end and we provide you with the general tax planning for the 2015 financial year.
Defer Assessable Income
To utilise this strategy of delaying income, you should check the items of income that are…