Foreign income tax offsets
Court confirms ATO’s position on foreign income tax offsets The ATO has welcomed the decision of the High Court to basically uphold the decision of the Full Federal Court in Read More…
Proposed new record-keeping course
MYEFO – 2019/20 Treasury has released its Mid-Year Economic and Fiscal Outlook (‘MYEFO’) for 2019/20 forecasting a surplus of approximately $5 billion. One new tax-related measure of note in the Read More…
Lifestyle assets continue to be an ATO audit target
Lifestyle assets targeted The ATO has revealed it will request a further five years’ worth of policy information from over 30 insurance companies about taxpayers who own marine vessels, thoroughbred Read More…
No CGT main residence exemption for non-residents
CGT main residence exemption for individuals who are foreign residents The Government recently tabled legislation, making its second attempt to deny access to the CGT main residence exemption for individuals Read More…
PAYG and deductions for payments to workers
PAYG withholding obligations The ATO has reminded business taxpayers they can no longer claim deductions for certain payments to workers if they have not met their PAYG withholding obligations from Read More…