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Relevant and practical knowledge and tools to build your business

ATO due dates, May 2019

15 May Lodge 2018 tax returns for all entities that did not have to lodge earlier (including all remaining consolidated groups), and are not eligible for the 5 June 2019 concession. Due date for companies and super funds to pay if required. Note: Individuals and trusts in this category pay as advised on their notice of

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Upcoming ATO events, May 2019

The ATO is talking at a range of conferences and forums. Over the next few days ATO staff will be speaking at: 8 May 2019: GST at settlement, Webinar – Register to attend Open Forums, Joondalup, WA – Register to attend 9 May 2019: Open Forums, Gosford, NSW – Register to attend

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Tax rulings, interpretative decisions, practice statements

Class rulings CR 2019/27 Income tax: Community Housing Canberra Limited – deductibility of donations under a Payment Direction Deed 24 April 2019 CR 2019/28 Eureka Funds Management Administration Pty Limited – AXA SA 2018 Leveraged Plan share offer for Australian employees 24 April 2019 CR 2019/29 Eureka Funds Management Administration Pty Limited – AXA SA

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ATO’s completed issues, May 2019

The following public advice and guidance issues have been completed. Consolidation – tax offsets Meaning of ‘alteration, extension or improvement’ in Division 43 of the Income Tax Act 1997 What constitutes ‘use’ for the purposes of section 40–80 of the ITAA 1997? Taxpayer alerts Carrying on a business Retirement villages – CGT event L5 Inbound supply chains

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If you think education is expensive, try ignorance

  The above headline (“If you think education is expensive, try ignorance”) is actually an old saying about the benefits of education and training. It seems that a few people want to lay claim to the original quote, but whoever said it certainly had a clear picture of the attitude sometimes taken to further education

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