Deductibility of expenditure on a commercial website

Chris Thorne - Thursday, February 09, 2017

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,  ..

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ATO Data Matching Programs Activated

Scott Robertson - Friday, February 03, 2017

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 ..

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Changes to the ‘Backpacker Tax’

Chris Thorne - Wednesday, February 01, 2017

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 ..

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ATO Data Matching Programs

Scott Robertson - Monday, December 05, 2016

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 ..

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Superannuation changes passed by Parliament

Chris Thorne - Thursday, December 01, 2016

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 ..

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Personal income tax cuts are law

Scott Robertson - Wednesday, November 30, 2016

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  ..

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ATO Warning for the Building and Construction Industry

Chris Thorne - Tuesday, November 15, 2016

The ATO has reported that the building and construction industry represents a disproportionate amount of its debt book, and has identified worrying trends that affect the industry. Clients in the industry are encouraged to contact their tax agents regarding outstanding debts, as the ATO ma ..

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Government 'Backflip' on Superannuation Changes

Scott Robertson - Monday, October 10, 2016

Following further consultation, the government has announced the following 'improvements' to the superannuation changes announced in the 2016/17 Budget: - The $500,000 lifetime non-concessional cap will be replaced by a new measure to reduce the existing annual non-concessional contribution ..

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Fallout from 'Panama Papers' Spreads

Chris Thorne - Wednesday, October 05, 2016

Earlier in the year, we reported that an unknown source had leaked 11.5 million documents from the Panamanian law firm of Mossack Fonseca – these are now referred to as the 'Panama Papers'. Basically, the documents illustrated how many wealthy individuals are hiding their money and income from  ..

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GST on Low-Value Imports

Scott Robertson - Monday, October 03, 2016

Goods imported into Australia – often by consumers using the internet – which cost less than $1,000 are currently GST-free. On May 3 2016, as part of its package of Budget Night announcements, the Federal government proposed that, as of 1 July 2017, this low-value threshold (‘LVT’) of $1,000 wi ..

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