The same business test replaced by the “similar business” test

  Among the first batch of tax legislation the government dealt with in the new year was Treasury Laws Amendment (2017 Enterprises Incentives No.1) Bill, legislation that contained changes to the “same business” test. It sees the “same business test” supplemented with a more flexible “similar business test” to work out whether a company’s income

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Travel expenses for investment properties (and CGT)

  An article in the latest The Taxpayer1 magazine discussed the relatively recent change to the rules regarding the ability of investment property owners to claim travel expenses related to their residential rental holdings. These claims are no longer allowed (see here for some ATO information). But the wording of the ATO guidance, which was

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Zero CGT discount for non-resident clients? That depends

  The starting point in understanding any complex tax rules (or any complex material for that matter) is usually to understand the “rational” and/or basic “principle” behind the rules. In this case, that basic principle is to deny the CGT discount (in full or part) to a taxpayer if the CGT liability arises after 8

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