MC Tax Advisors

July 16, 2018

Published by MC Tax Advisors at July 16, 2018

Categories

Small Business CGT Concessions

Small Business CGT Concessions – Active Asset Test and the Rus case

The active asset test in section 152-35 of the Income Tax Assessment Act 1997 (‘ITAA97’) is one the basic conditions to qualify for the Small Business CGT Concessions. A reading of the recent case of Rus and FCT [2018] AATA 1854 may lead practitioners to be concerned that the active asset test may not be available on the sale of […]

June 24, 2018

Published by MC Tax Advisors at June 24, 2018

Categories

Tax Bulletin

Tax Bulletin – June 2018

Our Tax Bulletin for June 2018 provides a tax update for individuals and SMEs, including status of legislation currently before Parliament, tax residency developments and current ATO activity. PROGRESS OF LEGISLATIVE CHANGES With the Senate currently in a 2-week sitting period, we are starting to see some movement on the legislative changes currently before Parliament. Personal tax rate cuts The […]

May 25, 2018

Published by MC Tax Advisors at May 25, 2018

Categories

Tax Bulletin

Tax Bulletin – May 2018

The Federal Budget has dominated the tax news in May. With the hype around the Budget now settling down, our May bulletin looks at other tax updates, and also reflects on some important Budget announcements relevant to SMEs. ATO ACTIVITY AND FOCUS Car Expense Claims The ATO are targeting the incorrect claims work-related car expenses. The ATO is concerned that […]

May 9, 2018

Published by MC Tax Advisors at May 9, 2018

Categories

Tax Bulletin

FEDERAL BUDGET 2018/19 – SNAPSHOT FOR SMES AND INDIVIDUALS

The Government has handed down its 2018/19 Federal Budget and there are a lot of measures that will impact SMEs and individuals. Together with the expected personal income tax cuts, there is a large focus on the black economy and funding the ATO to ensure taxpayers comply with their tax obligations. Interestingly, the majority of the start dates are 1 July […]