Bonsella December eNewsletter

Our latest eNewsletter includes information on the following topics:

Tax negotiation limited to known debt amounts: Two taxpayers have been unsuccessful before the Federal Court in seeking to set aside statutory demands issued by the Tax Office.

CGT roll-over for small business restructures on the ways: The Government is proposing to provide roll-over relief for small businesses that change their legal structure.

ATO starts issuing “certainty” letters: The ATO has commenced contacting more than 500,000 individual taxpayers to let them know that their tax returns are “shipshape”.

Government rejects SMSF borrowing ban recommendation: Direct borrowings by super funds via limited recourse borrowing arrangements are safe (for now).

Car expenses and FBT concessions on entertainment: A Bill is before Parliament which contains amendments concerning: work-related car expenses; and FBT concessions on salary packaged entertainment benefits.

Bonsella News: Updates from the Bonsella Team.