March/April Newsletter is here

Our latest eNewsletter includes information on the following topics:

Ride-sharing drivers must register for GST: the ATO has advised that Uber drivers must register for GST, regardless of how much they earn from providing ride-sharing services.

Tax offset for spouse super contributions: the ATO has reminded taxpayers that from 1 July 2017 the assessable income threshold for claiming a tax offset for contributions made to a spouse’s superannuation fund will increase to $40,000.

ATO to visit certain small businesses: the ATO will be visiting restaurants and caf├ęs, hair and beauty businesses across Perth and Canberra in April with a focus on cash economy issues.

Personal services income diverted to SMSFs: The ATO has extended its related penalty remission offer until 30 April 2017.

Tax risk management and governance review guide: The ATO has released a guide to tax risk management and governance review to help businesses develop and test their tax-related governance and internal control frameworks.

Overtime meal expenses disallowed: A taxpayer has failed in claiming deductions for overtime meal expenses, because he was not paid an allowance under an industrial agreement.

No deduction or capital loss for apparent guarantee liability: The AAT has denied two family trusts a deduction or capital loss of $4.3 million in guarantee liabilities due to a lack of credible evidence of a guarantee.

GST on low-value imported goods: the long-awaited Bill has been introduced into Parliament to impose GST on supplies of imported goods worth less than A$1,000.

Taxpayer denied deduction for work expenses of $60,000: The AAT has confirmed that a mechanical engineer was not entitled to deductions for work-related expenses totalling $60,000.

Bonsella News: Updates from the Bonsella Team.