Ground floor, 1 Chapel Street
Blackburn VIC 3130

Client Alert

Client Alert - December 2019

- ATO debts may affect your credit rating
- Corwdfunding: is it income?
- Non-commercial lossess: do the rules apply to you?
- Less tax for some working holiday makers?
- Tax relief for drought-stricken farmers
- Super guarantee opt-out for high income earners

Client Alert - December 2019

Client Alert - November 2019

- Getting the benefit of your business tax losses
- Downsizer super contributions: getting it right
- Health insurance and your tax: uncovered
- Small business CGT concessions: when do I qualify?
- Unpaid Super: important amnesty upadte for employers
- Selling shares: how does tax apply?
- ATO to scrutinise every return for tax time 2019
- Beware of insurance changes in superannuation

Client Alert - November 2019

Client Alert - October 2019

- Small Business income tax gap
- ATO sets its sights on undisclosed foreign income
- Claiming work trips for business owners
- ATO announces 'Better as Usual' Program to improve experience
- Salary sacrificing loopholes: are you receiving your full benefits?
- Thinking about setting up a SMSF?

Client Alert - October 2019

Client Alert - September 2019

- MyGov & ATO tax scams
- Tax time updates
- ATO watching for undisclosed foreign income
- Unusual claims disallowed
- ATO contacting small employers about Single Touch Payroll
- Disclosing business tax debt information
- ATO superannuation focus areas
- Compassionate release of super only available in limited cases
- Personal services income rules: unrelated clients test

Client Alert - September 2019

Client Alert - August 2019

- The ATO will inform certain tax agent clients their information is 'Tax Ready'
- Top mistakes to avoid this tax time
- Pension deeming rates cut from 1 July 2019
- Personal tax cuts Bill passes withoug amendment, now law
- ATO statement on administration of the low and middle income tax offset
- STP reporting irregularities
- Employee guide for work expenses
- FBT, taxi travel and ride sourcing - ATO clarifies
- New ATO data-matching program
- GST on low value goods
- Super downsizer contributions reach $1 billion
- Reasonable travel and overtime meal allowance amounts for 2019-20

Client Alert - August 2019

Client Alert - July 2019

- Tax planning
- Deffering derivation of income
- Bringing forward tax deductible expenses
- Tax relief for individuals and small businesses
- Low and middle income tax offset
- Deduct work related expenses
- Don't forget sharing economy income
- Superannuation contributions and changes
- Lower company tax rate
- Small business restructure rollover relief
- Super garantee contributions
- Single touch payroll
- Beware of ATO impersonation scams at tax time

Client Alert - July 2019

Client Alert - June 2019

- Requirements registered to lodge 2019 tax and other returns
- Payment summaries and STP this tax time - tax payers may need a myGov account
- STP exemptions and deferrals - ATO reminders
- Ombudsman call on ATO to cease small business recovery action where tax disputes are before AAT
- Cryptocurrency: record keeping requirements and data matching program
- Super death benefit for de facto partner upheld
- Protecting your super - how new law may affect SMSF's
- ATO reminds SMEs about paying super for backpackers

Client Alert - June 2019

Client Alert - May 2019

- ATO to ramp up ABN investigations and cancellations
- Fringe benefits tax: rates, thresholds and ATO focus for 2019 - 2020
- Guidance on when a company carries on a business
- Super guarantee amnesty not yet law, but $100 million recovered
- Instant asset write-off with Budget changes now law
- Rental deductions: ATO audits to double
- Shortfall penalties reduced under new ATO initiative
- How the ATO identifies wealthy individuals and their businesses

Client Alert - May 2019

Client Alert - April 2019

- Things to get right this FBT season
- Tax concierge service available to small businesses
- ATO small buisness benchmarks updated
- Early recovery of small business tax debts: ATO to be scrutinised
- Compensation for defective ATO administration: review announced
- Single Touch Payroll: low-cost solutions now available
- Super guarantee amnesty not yet law: ATO will apply existing law
- ATO finds 90% error rate in sample of rental property claims
- Property used for storage an active asset for small business CGT concession purposes

Client Alert - April 2019

Client Alert - March 2019

- Single Touch Payroll reporting for small businesses: get ready!
- Super guarantee compliance: time to take action
- Proposed increase for small business instant asset write-off
- ATO warns about new scams in 2019
- ATO refers overdue lodgements to external collection agencies
- Government consultation on sharing economy reporting
- Extra 44,000 taxpayers face Div 293 superannuation tax
- Company losses "similar buisness test" bill passes

Client Alert - March 2019

Client Alert - February 2019

- Tax clinic trial to reduce tax regulatory burden
- The "work test" exemption for recent retirees
- ATO issuing excess super contributions determinations
- Reviewing the tax treatmeant of granny flats
- Resolving tax disputes: government to help small businesses
- Small business tax offset: avoiding errors when claiming
- Home office running expenses and electronic device expenses
- Genuine redundancy payments: alignment with Age Pension age
- GST on property developments involving government

Client Alert - February 2019

Client Alert - December 2018/January 2019

- Work-related deductions down for 2018
- ATO identifies 26,000 incorrect rental property travel expense claims
- Small business corporate tax rates Bill is now law
- GST reporting: common errors and how to correct them
- Gorvernment announces super refinements
- CGT on grant of easement or licence
- First Home Super Saver scheme and downsizer super contributions: ATO guidance
- ATO scan alert: fake demands for tax payments
- Government to establish $2 billion fund for small business lending
- ATO information-sharing: super assets in family law proceedings

Client Alert - December 2018/January 2019

Client Alert - November 2018

- Transfer balance cap: ATO highlights admin issues
- Australian Small Business White Paper: tax reform a key
- ATO expects 20,000 to miss out on refunds by failing to lodge
- Black economy: electronic sales suppression tools now banned
- Super work test exemption for recent retirees
- Bringing forward small business tax cuts by five years
- Corporate tax rates and small business tax offset changes
- Residential rental property travel expenses: ATO guidance
- Tax on compensation received for inappropriate advice
- ATO set to issue excess super contribution determinations

Client Alert - November 2018

Client Alert - October 2018

- Claiming work-related expenses: ATO guides and toolkits
- Illegal phoenix activity: public examinations in Federal Court matter
- Banking Royal Commission: possible super contraventions
- SMSF issues update: ATO speech
- ATO data analytics and prefilling help tax return processing
- Parliamentary committee recommends standard tax deduction, "push return" system
- 12-month extension of $20,000 instant asset write-off
- Cryptocurrency and tax: updated guidelines
- The ATO as SMSF regulator: observations

Client Alert - October 2018 (PDF)

Client Alert - September 2018

- Super sector must address trust deficit
- Call to boost instant asset write-off to $100,000
- Tax return required for excess super non-concessional contributions
- APRA's response to Productivity Commission draft report
- Protecting Super Bill: Senate Committee report
- First Home Super Saver Scheme: ATO guidance
- ATO targeting car sharing platforms
- Delay in extending reportable payments to courier and cleaning services
- GST: supplies of real property connected with Australia

Client Alert - September 2018 (PDF)

Client Alert - August 2018

- Government launches new service to simplify business registrations
- Illegal early access to super: ATO warning about scammers
- ATO gives small businesses the chance to seek independent review of ATO audit position
- Transacting with cryptocurrency: updated ATO info
- Tax gap for individuals is $8.8 billion, says ATO
- ATO warns about scammers at tax time
- Income tax residency rules for individuals: Board of Taxation recommends reform measures
- Retirement income covenant needs more flexibility: KPMG
- Illegal phoenix activity costs billions; new Phoenix Hotline
- Super funds deliver healthy returns for 2017-2018
- GST exemption for offshore sellers of hotel bookings to be removed: draft legislation released

Client Alert - August 2018 (PDF)

Client Alert - July 2018

- Business lending practices in spotlight at Royal Commission
- Personal tax cuts now law
- GST property settlement online forms available
- Major ATO focus on work-related clothing and laundry this tax time
- Advisory Board to help clamp down on the black economy
- Superannuation system: Productivity Commission draft report
- SMSF compliance: don't slip up & recordkeeping reminders

Client Alert - July 2018

Client Alert - June 2018

- Tax planning
- Deferring deivation of income
- Bringing forward tax-deductible expenses
- Businesses
- Lower company tax rates and imputation
- Deductions for small business entities
- Small business CGT concessions
- Individuals
- No more Budget repair levy
- Deduct work-related expenses
- Superannuation contributions and changes
- Property Owners
- Tax compliance and developments
- Single Touch Payroll
- GST on low value imported goods
- Payments to contractors in building and construction

Client Alert - June 2018

Client Alert - May 2018

- ATO closely examines work-related car expenses
- Data matching finds taxpayers with unnamed Swiss bank accounts
- CGT main residence exemption to disappear for non-residents
- Residential rental property travel expense deduction changes
- Government to increase civil penalties for white-collar crime
- Businesses, get ready: GST on low value goods
- Financial Complaints Authority takes shape
- Banking Royal Commission wraps up evidence on financial advice
- ATO assessments issued for excess super pension balances

Client Alert - May 2018

Client Alert - April 2018

- ATO embarking on e-Audits
- Court finds pay-as-you-go amounts "withheld" from salary payments
- "Transmission to retirement" pensions to become simpler
- ATO releases latest small business benchmarks
- Capital gains tax withholding: updated information for trustees
- Goods and services tax on low-value imported goods
- Superannuation rates and thresholds for 2018-2019
- Super guarantee: ATO compliance approach to non-payment
- Single Touch Payroll reporting: ATO urges employers to get ready

Client Alert - April 2018 (PDF)

Client Alert - March 2018

- Bill to implement housing affordability CGT changes
- Changes to small business CGT concessions
- Bill to change residential property GST arrangements
- Moving to combat the black economy
- Corporate tax avoidance: latest ATO targets
- Social security means testing of lifetime retirement income streams
- ATO now issuing excess transfer balance determinations
- Windfarm grant was an assessable recoupment

Client Alert - March 2018 (PDF)

Client Alert - February 2018

- ATO guidelines: profit allocation within professional firms
- Housing affordability measures now law
- Fringe benefits tax: employees' private use of vehicles
- Tax consequences of trust vesting
- Disclosing business tax debt information to credit agencies
- Taking employee share scheme dividend equivalent payments
- Superannuation integrity changes
- Guidance for SMSFs on transfer balance reporting

Client Alert - February 2018 (PDF)

Client Alert - December 2017

- Consultation paper: combating phoenix activities
- New passive income test for lower corporate tax rate
- ATO guidance: what is "carrying on a business"?
- Total superannuation balances and pension transfer balance account reports
- Fringe benefits tax: should an Uber be treated as a taxi?
- Tax treatment of long-term construction contracts
- Foreign equity distributions to corporate entities

Client Alert - December 2017 (PDF)

Client Alert - November 2017

- Compensation for ATO systems outages
- Small business restructure rollover: changes
- Tax cut closed off for passive investment companies
- Identification numbers for directors: an Icarus moment for phoenix activities?
- Tax measures for affordable housing
- Legislation for First Home Super Saver scheme and downsizer super contributions
- No GST on digital currency: Bill
- New financial and superannuation complaints authority
- Superannuation guarantee:
- Crackdown on employer non-compliance
- Salary sacrifice integrity

Client Alert - November 2017 (PDF)

Client Alert - October 2017

- Bill to increase Medicare levy
- Budget changes to foreign resident CGT: draft legislation
- Foreign resident CGT withholding: early recognition of tax credit
- Further guidance for tax losses via a new "similar business" test
- ATO increases its scrutiny on work-related expenses
- Activity statements can now be lodged in advance
- New downsizing cap available
- GST: simplified accounting for food retailers
- Super system reforms
- Segregated current pension assets
- First Home Super Saver Scheme - draft legislation
- Super assets total $2.3 trillian at June 2017.

Client Alert - October 2017 (PDF)

Client Alert - September 2017

- Work-related expense claims under scrutiny
- Employee travel expense deductions
- Working holidaymakers and tax returns for 2017
- Small businesses:
- Asset write-offs
- Tax debts: setting up a payment plan
- Federal Court rules on PAYG avoidance
- Tax assessments confirmed for undisclosed business income
- ASIC takes action on super fund disclosures
- Companies should consider reporting tax liabilities: AASB

​Client Alert - September 2017 (PDF)

Client Alert - August 2017

- Tax cut for small business: ATO will amend returns
- Instant asset write-off extended for small business entities
- ATO update on Manage ABN Connections
- Work-related deductions denied: lack of documenting evidence
- Super reforms: changes to TRIS, CGT relief, pension cap and LRBA integrity rules
- SMSF annual return: key changes for 2016-2017
- Single Touch Payroll operative for early adopters
- "Netflix" tax: who is an Australian consumer?
- New draft GST guidelines issued

Client Alert - August 2017 (PDF)

Client Alert - July 2017

- Higher education HELP changes announced
- Super reforms from 1 July 2017
- Draft legislation: LRBA integrity measures for pension cap
- Deductions for super funds: major ruling update
- Bill to reduce corporate tax rate
- Budget updates
- Transfer pricing
- Car expenses for transporting equipment disallowed
- Draft legislation: financial complaints and dispute resolution

Client Alert - July 2017 (PDF)

Client Alert - June 2017

- Tax assistance for people affected by Cyclone Debbie
- ATO adds value to developing financial literacy
- Does you business import export goods and services?
- Senate Committee holds corporate tax avoidance hearing
- Higher education HELP changes: faster repayments and threshold changes
- Super guarantee non-compliance: Senate Committee report
- Illegal SMSF early access scheme leads to $6,000 fine

Client Alert - June 2017 (PDF)

Client Alert - April 2017

- Ride-sharing drivers must register for GST
- Tax offset for spouse super contributions: changes from 1 July 2017
- ATO targets restaurants and cafe's, hair and beauty businesses in cash economy crackdown
- Super reforms: $1.6 million transfer balance cap and death benefit pensions
- No deduction for carried-forward company losses
- Overseas income not exempt from Australian income tax
- GST on low-value imported goods
- Alternative assessments not tentative: Federal Court

Client Alert - April 2017 (PDF)

Client Alert - March 2017

- Re-characterisation of income from trading buisnesses
- ATO warning - research & development claims in building and construction industry
- Intangible capital improvements made to a pre-CGT asset
- Personal services income diverted to SMSFs: ATO extends offer
- Depreciating assets - composite items
- Tax risk management and governance review guide released
- Overtime meal expenses disallowed because no allowance received
- Time extension to review objection decisions disallowed - again!
- No deduction or capital loss for apparent guarantee liability
- Taxpayer denied deduction for work expenses of $60,000

Client Alert - March 2017 (PDF)

Client Alert - February 2017

- ATO priority on settling cases - but not at any cost
- ATO developments work-related expenses risk profiles
- Onus on taxpayers to show no fraud or evasion: Full Federal Court
- No disclaimer of trust interest: unsuccessful appeal
- Admin penalties of 75% for failing to lodge FBT returns
- New ATO data-matching program: ride-sourcing
- Taxation ruling on commercial website deductibility
- Taxation determination on deductions for bad debts: trust beneficiaries and UPEs
- Taxpayer failed to prove that payments were "loans"

Client Alert - February 2017 (PDF)

Client Alert - December 2016/January 2017

- Contrived trust arrangements in ATO sights
- GST and countertrade transactions
- Companies held to be resident and liable to tax in Australia
- Payment was assessable as "deferred compensation"
- ATO data-matching programs continue
- Tax debt release applications refused

Client Alert - December 2016/January 2017 (PDF)

Client Alert - November 2016

- Budget superannuation changes on the way
- Deducting personal contributions
- Pension $1.6 million transfer balance cap
- Concessional contributions cap
- Primary producer income tax averaging
- Research and development tax incentive rates change
- SMSF related-party borrowing arrangements
- Travel expense and transport of bulky tools claims denied

Client Alert - November 2016 (PDF)

Client Alert - October 2016

- Personal middle income tax rate cut on the way
- Small business tax breaks in the pipeline
- Single touch payroll reporting legislative changes
- Take care with work-related deduction claims, says ATO
- ATO eye on SMSFs and income arrangements
- Social welfare recipients data-matching program

Client Alert - October 2016 (PDF)