Newsletters
GPS Partners Client Updates are a valuable communication for businesses, covering the latest developments in tax and accounting procedures.
download
Small business benchmarks under microscope • Carbon tax scheme to commence on 1 July 2012 • Uncertainty with private rulings system • Taxpayer entitled to prompt GST refund, says Court • CGT test includes commission liability after CGT event • Personal services income rules apply, finds Tribunal • Tax changes for small businesses introduced • Superannuation guarantee to be increased to 12%
download
Business tax losses under Tax Forum spotlight • Tax Office views on SMSFs, real property and borrowing rules • Tax law changes to tackle phoenix activities • Small business depreciation rule changes on the horizon • Standard deduction for work expenses next year • Partnership not ended, so director still liable, says Court • Dutch retiree took reasonable care, finds Tribunal • Super guarantee charge is a valid tax, says High Court
download
Cash Economy Still On ATO’s Radar • Don’t Take The Bait On Tax Avoidance Schemes • Capital Gains Tax Bills For Failing Test • Share Trading Business Existed, Says Tribunal • Taxpayer Loses Excess Super Contributions Tax Appeal • SMSFs Warned On Improper Lending Of Money
download
Carbon Tax To Commence On 1 July 2012 • Government Set On Countering Phoenix Activities • New Restrictions On SMSF Investment In Artworks • Income Test For Private Health Insurance Rebate • Tax Discount On Interest Income • ATO Targets FBT Avoidance Using Employee Share Trusts • No GST On Damages Paid For Lost Scaffolding • Division 7A Benchmark Interest Rate • Reasonable Travel And Meal Allowance Amounts • DCar Depreciation Limit And Luxury Car Tax Threshold
Tax Office Announces Compliance Focus Areas • Trust Streaming: Extension To Record Beneficiaries’ Entitlements •Car Fringe Benefit Taxation Changes • Dependent Spouse Offset Finishes For Under 40s • Low Income Taxpayer Offset Ends For Most Minors •Building Contractors Face Reporting Proposal • Unpaid Directors’ Fee Schemes And Private Companies On ATO Radar • ATO Reminds Employers Of Superannuation Obligations • Tribunal Denies Deduction For Interest On Loans Made To Trust •SPersonal Services Income Rules Applies To Taxpayer
Trust Streaming – Certainty Almost Here • Car Fringe Benefit Taxation about to Change • Dependent Spouse Offset on the Chopping Board • SMSF Non-Complying Status Affirmed, Despite Tragic Circumstances • Goods Taken From Stock for Private Use • Travel and Study Scams on Tax Office Radar • Low-Income Taxpayer Offset to End for Most Minors •Commissioner's Claim to Recover GST Refunded Not Out of Time • GST and Tax Invoice Requirements • Deductibility for Private Pilot's Licence Cost Denied for a Solicitor
Trust Law Changes On The Way • Personal Services Entities: ATO Takes A Closer Look • Flood Levy Now Law • GST And Goods Sold With Discounted Components • Land Sale Case Sheds Light On “Going Concern” GST-Free Concession • Employees Not Contractors, Says Court • Self-managed Super Funds and Collectables • FBT and Car expense Rates • Federal Budget Wrap Up
download
Cash Economy Letters Encouraging Compliance, Says Tax Office • Director’s Penalty Notice Given When Delivered, Not Posted • GIC And SIC Rates • Labour Hire Firms And Splitting Income Warning • Calculating Distributable Surplus When Tax Bill Amended • Watch Out For Scammers, Says Tax Office • Eye Glasses Discount Deal Throws New Light On GST Calculation • Tax Office’s Approach To Self-Managed Super Funds Affected By Floods
download
R&D Temporary Flood Levy Proposed • Tax Help for Flood Victims • Café Owners' Tax Bill Reduced after Cash Wages Taken into Account • Same Trust, so Capital Gain Can Be Offset by Earlier Losses • Superannuation Excess Contributions Tax Bill for Breach of Cap • Penalty for Late Superannuation Deduction Notice "Harsh" • Superannuation Benefit and Payment by Cheque
download
Trust Entitlements and Loans: Tax Office Issues Guidance • Tax Office Highlights Common PAYG Instalment Errors • SMSFs and Private Companies Investing in Trusts: Tax Office Warning •Declaration of Trust over Land Sold, so No Personal Tax Liability
• Subsidy Paid for Loss-making Contracts Assessable as Income
• Employing your Spouse? Ensure There’s an “Employment Relationship” • Increasing Adjustments in BASs as Debts Remain Unpaid •
Whether a Property Constitutes Residential Premises for GST Purposes •Tribunal Can’t Review Private Ruling Decision as Ruling Given for Wrong Years
•Retirement Village Scheme Deductions Wrong, but Taxpayers Took “Reasonable Care”
•
Refunds for Overpayments of GST
•
Automated Tax Deduction for Youth Allowance Recipients
•
“Loan” from Private Company an “Honest Mistake”?
•
“Stronger Super” Reforms on the Horizon
download
Tax Office Scans Car and Real Property Purchases • Compromised TFNs Still a Problem, Says Ombudsman • Bonus Units from Employee Benefits Trusts: Tax Office Outlines Tax Issues • Tax Office Highlights Errors in Claiming Deductions for Super • Unit Trust Arrangement Ineffective to Avoid Tax Bill on Shares • HELP Debt Deferred as Special Circumstances Existed • Excess Superannuation Contributions: Superannuation Law Changes on the Way • GST and Dodgy Property Arrangements: Tax Office Spells Out Views
subscribe
GPS Partners invite you to register for our Client Updates which are distributed each month. We take your privacy seriously and will not pass your details on to any third parties.
email gps@gpspartners.com.au with your details or click on the link above.
