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CGT and the family home: Expats and foreign residents beware

CGT and the family home: Expats and foreign residents beware

 

The family home of foreign residents and expats may be taxed if legislation before Parliament is passed by the Senate.

If you are a foreign resident living in Australia or an Australian working overseas who owns residential property in Australia, this reform potentially ...

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Tax stats reveal the state of the Australian community

Tax stats reveal the state of the Australian community

 

Every year, the Australian Taxation Office (ATO) compiles the tax data they collect. The recently released 2015-16 ‘tax stats’ encapsulate the data from 16 million income tax returns lodged for the 2016 income year for 13.5 million individuals, 940,000 companies, as well as s...

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New concessional loan fund for farmers experiencing drought

New concessional loan fund for farmers experiencing drought

A new Drought Transport Fund was recently announced by the Minister for Primary Industries, Niall Blair. 

The fund offers eligible farmers a low-interest loan of up to $20,000 to cover 100% of costs (GST exclusive) to transport stock, fodder, or water to/from drough...

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Will your business be audited?

Will your business be audited?

How the ATO identifies audit targets

The ATO is very upfront when it comes to their compliance activity. Every year they publish small business benchmarks that outline what a typical business ‘looks like’ in different industries. If your business falls outside of those benchmark...

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GST on property developments

GST on property developments

The big changes for developers and purchasers

If a Bill currently before Parliament passes, from 1 July 2018, purchasers of new residential premises or new residential subdivisions will need to remit the GST on the purchase price directly to the ATO as part of the settlement pro...

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Power And Influence

Power And Influence

The other business influencer that can make or break you

Did a Kardashian really just wipe US $1.3bn off the share price of Snapchat?

A tweet from Kylie Jenner saying “sooo does anyone else not open Snapchat anymore? Or is it just me… ugh this is so sad” is being credited ...

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The ATO's FBT Hot Spots

The ATO's FBT Hot Spots

The Fringe Benefits Tax (FBT) year ends on 31 March. We’ve outlined the key hot spots for employers and employees.

Motor Vehicles – using the company car outside of work

Just because your...

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SMSF Lodgements Extended for 2016/17 Income Year

The due date for lodgement of all self-managed superannuation fund annual returns for the 2016/17 income year has been extended to 2 July 2018.

The announcement by the Commissioner of Taxation is in regards to the commencement of the transfer balance cap regime which commenc...

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What's Changing in 2018

What's Changing in 2018

What’s changing in 2018?

1 January 2018
• Vacancy fees for foreign acquisitions of residential land - An annual vacancy fee imposed on foreign owners of residential real estate if the property is not occupied or genuinely available on the rental market for at least...

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Directors on 'hit list' for not paying employee super

Directors on 'hit list' for not paying employee super

Proposed legislation would see the ATO pursue criminal charges against Directors who fail to meet their superannuation guarantee (SG) obligations.

An analysis by Industry Super Australia submitted to the Economics References Committee into Wage Theft and Superannuation Guara...

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