Tax Bulletin

February 28, 2021

Tax Bulletin – February 2021

This month the ATO have issued rulings on employee travel expenses, outlining the principles, common scenarios and a new timeframe that the ATO will accept as an employee travelling. In addition, trusts with Family Trust Elections and potential Family Trust Distribution Tax liabilities are now on the ATO radar. LEGISLATION UPDATE Federal Budget—Superannuation measures Treasury Laws Amendment (Your Future, Your […]
January 11, 2021

Tax Bulletin – December 2020 and What to Expect in 2021

The end of 2020 provided the first AAT decision in regard to eligibility for JobKeeper, ruling in favour of the taxpayer. As we move into 2021, we expect further decisions in this area, together with long-awaited guidance from the ATO on reimbursement agreements and profit-splitting for professional firms. DECEMBER 2020 TAX UPDATE Apted v CofT —Late ABN application accepted for […]
November 30, 2020

Tax Bulletin – November 2020

The Government has announced a welcome change to the temporary full expensing rules, and Victoria has released the State Budget. Meanwhile, the AAT has handed down a concerning decision relating to work-related expenses in Lambourne. FEDERAL BUDGET UPDATE Changes to Temporary Full Expensing The Government has announced that it will be making the following changes to the temporary full expensing measures: […]
November 2, 2020

Tax Bulletin – October 2020

Several Federal Budget measures have quickly passed through Parliament, including the temporary full expensing and loss carry back rules. Consultation for the JobMaker rules has been released, and recent cases include an interesting GST decision on the subdivision of land by a company. FEDERAL BUDGET UPDATES Treasury Laws Amendment (A Tax Plan for the COVID-19 Economic Recovery) Bill 2020 has […]