May 2013 M T W T F S S « Apr 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
April 13th, 2013
A media release from the Treasurer, Wayne Swan, today announces the Government’s intention to limit tax deductibility for education expenses to $2,000 per person per annum.
The limit is to apply for outgoings incurred from 1 July 2014.
The Treasuer explians the mischief as follows:
Without a cap on the amount that can be claimed under this deduction, it’s possible to make large claims for expenses such a
February 27th, 2013
On 26 February 2013, the Assistant Treasurer released exposure draft legislation to address some of the issues raised in relation to the first ED legislation to replace section 105-65 of Schedule 1 of the Taxation Administration Act 1953. The first ED proposed a new Division 36 into the GST Act.
The amendments in relation to this revised ED will apply at the originally announced date – i.e., in relation to working out net amounts for tax periods commencing on or after 17 August
May 31st, 2012
The final ruling on financial assistance payments was issued by the ATO yesterday, 30 May 2012 – GSTR 2012/2.
As an initial observation, it refers to the existing (but about to be amended) provisions of the GST law dealing with:
- non-profit bodies (a term which is to be replaced by not-for-profit entity if the ED for Tax Laws Amendment (2012 Measures No. 4) Bill 2012: tax exempt body “in Australia” requirements finds its way into law); and
April 21st, 2012
Congratulations to (now) DP Stephen Frost, DP Fiona Alpins, DP Professor Bob Deutsch and SM Gina Lazanas on their appointments as part-time members of the AAT as Deputy Presidents and Senior Member, respectively, with taxation expertise.
The Attorney General, Nicola Roxon, made the appointments on Thursday 19 April 2012. Her media release can be accessed here.
“I offer my congratulations to all those who have
February 28th, 2012
There have been two important developments over the last week for the GST treatment of real property:
- The Commissioner has released two determinations concerning the sale of real property subject to a lease.
December 14th, 2011
- Michael Evans said: "Peter Hill observed as follows: "I stand to be corrected, but as far as .." on Is this inappropriate or what?
- Michael Evans said: "The Commissioner sought expedition of a special leave application for ap.." on More on Multiflex
- Arlene Macdonald said: "There always had to be scope for the Commissioner to argue the facts on .." on Binding rulings or not?
- Peter Hill said: "All I will say about the article in Weekly Tax Bulletin, to be clear, is.." on Binding rulings or not?
- Michael Evans said: "Thomson Reuters Weekly Tax Bulletin notes that: It is understood the Com.." on More on Multiflex