ATO

GST and the sale of vacant land

  A frequent query from tax practitioners who contact Tax & Super Australia’s member-only helpline service is whether a sale of a vacant block of land would be subject to GST. In this worked example, we walk through a scenario where a taxpayer disposes of a vacant block of land on which residential property was

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SMSFs: Here’s an updated toolkit of ATO forms you’ll need

  SMSF trustees may find that occasionally a particular form is needed to be able to complete an administrative task for the ATO. Rather than have you searching the vast labyrinth of the ATO’s website for SMSF forms, we thought it helpful to list some of the required forms here (you could even bookmark this

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Gig economy danger: Hiring a “contractor” who is really an employee

  If your business client is looking to put on more staff, then by all means congratulate them. But they may also benefit from a follow-up warning. In these days of the “gig economy”, the engagement status of workers has become an even more important distinction – whether they are employees or independent contractors –

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Have your clients had a change in creditable purpose?

  Sometimes your clients may use a property they purchase in a way that is different to what they originally planned. Remind them that if they claimed GST credits for property purchases they now use to make input-taxed supplies, they need to report adjustments for this change in creditable purpose in their activity statement. For

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