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Changes to employee FBT declaration forms

With the due date for FBT returns prepared by tax agents looming (the deadline is June 25 if lodging electronically), the ATO has released updated versions of five employee declaration forms for the 2016-17 FBT year. Changes to employee FBT declaration forms These updated forms reflect changes to the FBT laws that took effect on

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Inspector-General’s audit of employer obligations

The Inspector-General of Taxation (IGT) Ali Noroozi has recently released his report into the ATO’s employer obligations audits. Conducted over more than a year, the IGT also took on board submissions from stakeholders and representative bodies (including Tax & Super Australia — see our submission on this page). A key concern has been the classification

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Land owned before CGT, but can a recent house built on it be CGT-free?

Naturally, a taxpayer will assume that when they build a house, that building will not qualify for CGT exemption until it becomes that taxpayer’s “main residence”. There is however a section of the regulations that allows that taxpayer to extend the period of the main residence exemption so that this is initiated during the period

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