An employee construction project manager/supervisor was denied deductions for overtime meal expenses, as he was not paid an overtime meal allowance under an industrial agreement (award). The taxpayer often worked at nights and on weekends during the relevant income years, and so additiona ..
The ATO is currently reviewing arrangements where individuals (at, or approaching, retirement age) purport to divert their personal services income to an SMSF, so that the income is taxed concessionally (or exempt from tax) in the fund, rather than being subject to tax at the individual’s margin ..
The ATO has confirmed that, if intangible capital improvements are made to a pre-CGT asset, they can be a 'separate CGT asset' from that pre-CGT asset if the relevant requirements are satisfied. The result of this is that, while the disposal of the pre-CGT asset itself will be exempt from CGT, ..
In a recent case, the Federal Court has agreed with the ATO that 'ride-sourcing' (such as that provided using Uber) is 'taxi travel' within the meaning of the GST law. The ATO has advised people who are taking up ride-sourcing to earn income should: - Keep records - Have an Australian bu ..
The ATO has released a public taxation ruling covering the ATO’s views on the deductibility of expenditure incurred in acquiring, developing, maintaining or modifying a website for use in the carrying on of a business. Importantly, if the expenditure is incurred in maintaining a website, ..
The ATO has announced that it will be undertaking the following two data matching programs. Ride Sourcing data matching program The Ride Sourcing (E.g. Uber) data matching program has been developed to address the compliance risk of the registration, lodgement and reporting of busines ..
From 1 January 2017, tax rates changed for working holiday makers who are in Australia on a 417 or 462 visa (these rates are known as ‘working holiday maker tax rates'). If a business employs a working holiday maker in Australia on a 417 or 462 visa, from 1 January 2017, they should withh ..
The ATO has announced it is embarking on the following three (major) data matching programs. Share transactions data matching program The share transactions data matching program has been conducted since 2006 to ensure compliance with taxation obligations on the disposal of shares and sim ..
The government's extensive changes to the taxation laws regarding superannuation were passed by Parliament on 23 November 2016. According to the Treasurer, Mr Scott Morrison: "The superannuation reform package better targets tax concessions to make our superannuation system fair and sustainab ..
The government has finally legislated the tax cuts originally announced in the May 2016 Budget, t he following are the rates for adult residents for the 2016/17 income year (i.e., from 1 July 2016). Taxable income Tax on this income 0 – $18,200 ..
- No overtime meal allowance, no overtime meal deduction
- Diverting personal services income to SMSFs
- Making 'intangible' capital improvements to pre-CGT assets
- Ride-Sourcing is 'Taxi Travel'
- Deductibility of expenditure on a commercial website
- ATO Data Matching Programs Activated
- Changes to the ‘Backpacker Tax’
- ATO Data Matching Programs
- Superannuation changes passed by Parliament
- Personal income tax cuts are law