Our latest eNewsletter includes information on the following topics:
Tax relief for small businesses that restructure on the way: The Government has proposed changes to the law to provide tax relief for small businesses that restructure.
Trust ABNs to be cancelled if no longer carrying on business: The ATO has advised that the Registrar of the ABR will begin cancelling the ABNs of approximately 220,000 trusts.
Withholding tax for car allowances: If employers who have been paying car allowances at a higher rate have not been withholding tax, they should start now.
Travellers with student debts need to update contact details: People with student debts who are moving overseas may need to update their contact details with the ATO.
Small business tax concession refused as threshold test failed: The Federal Court has denied a taxpayer access to the small business CGT concessions.
“Wildly excessive” tax deduction claims refused: An individual has been largely unsuccessful before the AAT in claiming work-related tax deductions.
GST credits not available for payments on behalf of super funds: The ATO has issued GST Determination GSTD 2016/1, which provides whether employers can claim input tax credits for expenses paid on behalf of superannuation funds.
Bonsella News: Updates from the Bonsella Team.
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