Our latest eNewsletter includes information on the following topics:
Specific tax rule to prevent dividend washing – The Assistant Treasurer has announced that the Government will introduce a specific tax rule to prevent “dividend washing”.
Individual denied interest deduction – The Administrative Appeals Tribunal (AAT) has denied a taxpayer’s claim for interest deductions incurred in relation to rental properties owned by a trust.
Overseas doctor a tax resident of Australia – A doctor has been unsuccessful before the AAT in arguing that he should be declared a non-resident of Australia for tax purposes.
Partnership denied GST credits – The AAT has held that a partnership was not carrying on an enterprise and was not entitled to input tax credits it had claimed.
Division 7A benchmark interest rate – The ATO has advised the benchmark interest rate for the 2013–2014 income year.
Car depreciation limit – The ATO has announced the car depreciation limit for the 2013-2014 income year.
Reasonable travel and meal allowance amounts – The ATO has announced the reasonable travel and meal allowance amounts for the 2013–2014 income year.
Key superannuation changes – The Government has made key superannuation changes concerning excess concessional contributions, higher contribution caps for older Australians and extra contributions tax for high income earners.
Bonsella News – Updates from the Bonsella Team.
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