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ATO completed issues

Meaning of ‘alteration, extension or improvement’ in Division 43 of the Income Tax Assessment Act 1997 Purpose To assist taxpayers in determining whether there is an extension, alteration or improvement for the purposes of the capital works deductions. This in turn may have implications for the deductibility of those expenses under another provision of the

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ATO due dates — March 2019

21 March Lodge and pay February 2019 monthly business activity statement. 31 March Lodge tax return for companies and super funds with total income of more than $2 million in the latest year lodged (excluding large/medium taxpayers), unless the return was due earlier. Payment for companies and super funds in this category is also due by

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Upcoming ATO webinars — March 2019

Single Touch payroll closely held payees Tuesday 5 March 2019, 10.30am – 11.30am Information for employers with closely held payees including substantial and small employers. Employers Superannuation reporting through Single Touch Payroll Tuesday 12 March 2019, 10.30am – 11.30am Information on the changes to superannuation reporting including, what is MATS data and how it is being used,

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Upcoming TPB webinars — March 2019

Webinar Date/Time Description Audience Work-related expense claims Tuesday, 19 March 2019 11:00am – 12:00pm (ADST) Work-related expenses are a topic of interest and discussion right now. Join this webinar with representatives from the Board and the ATO and find out why there’s a focus on the claims and your responsibilities and obligations. All tax practitioners Improving

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Tread carefully when splitting income

  Now and then the ATO issues warnings on how its general anti-avoidance legislation can apply to professional firms that allocate profits to individual professional practitioners with proprietorship in the firm. Firms potentially affected include those providing services in the accounting, architectural, engineering, financial services, legal and medical professions. Professional firms can be structured in

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