MC Tax Advisors

July 25, 2019

Published by MC Tax Advisors at July 25, 2019

Categories

Article

Denial of deduction for holding costs on vacant land

The Government has introduced legislation to deny deductions from 1 July 2019 for the costs of holding vacant land. Holding costs include expenses such as rates, taxes, interest and maintenance costs. The measures do not apply to companies, or where the land is used in the course of carrying on a business (either by the holder or certain related parties). […]

July 2, 2019

Published by MC Tax Advisors at July 2, 2019

Categories

Tax Bulletin

Tax Bulletin – June 2019

This month three specific ATO Fact Sheets have been released for small businesses. With Parliament resuming we can expect debates and focus on personal tax cuts, however it is also important to remember the tax changes that apply from 1 July 2019 (some for which legislation is yet to be seen). These, together with a recent cases and ATO Rulings […]

June 2, 2019

Published by MC Tax Advisors at June 2, 2019

Categories

Tax Bulletin

Tax Bulletin – May 2019

May 2019 saw the Coalition win the Federal Election, and the 2019/2020 Victorian State Budget be handed down. These together with a number of cases, ATO rulings and new compliance focuses, are covered in our May Tax Bulletin. VICTORIAN STATE BUDGET The Victorian State Budget was handed down on 27 May 2019. Regional Victoria is a ‘winner’ from the Budget, […]

April 30, 2019

Published by MC Tax Advisors at April 30, 2019

Categories

Tax Bulletin

Tax Bulletin – April 2019

A number of tax rulings were issued during April, of particular interest being the final ruling on when a company is carrying on a business. A few Budget measures were able to be passed before the calling of the Federal election, including the small business instant asset write off changes, but this has left many other unpassed tax measures in […]