June 2015 Report

• Commisioner’s statutory remedial power on the way
• ATO ramps up face-to-fact contact with wealthy individuals
• Sale on business earn-out arrangements – tax changes on the way
• ATO data matching eBay sellers
• Agressive R & D claims under scrutiny
• No jab, no pay for child benefits – Government immunisation requirement

The May Report 2015

• Tax Planning
• Deferring assessable income
• Minimising deductions
  -Business taxpayers
  -Non-business taxpayers
• Non-business taxpayers
• Companies
• Trusts
• Capital gains tax
• Superannuation
• Fringe Benefits tax
• Individuals

April 2015 Report

• Separate ATO appeals unit needed to resolve tax disputes
• Time limits on trustee tax assessments clarified
• Single Touch Payroll consultation noted big changes afoot
• GST credits for employee accommodation refused
• Penalty for promoting pharmaceuticals donations scheme
• Tax concessions following business sale cancelled

March 2015 Report

The March Report has been released and covers topics including:

• Small business tax review finds first steps for improvement
• Valuation reports for tax purposes could be easier
• Employee share scheme tax law changes on the way
• ATO code of settlement
• Court confirms tax on transfer of land to joint-venture trust
• Personal services income when no service is provided

February 2015 Report

The February Report has been released and covers topics including:

• Borrowing by superannuation funds under security
• Bitcoin and ATO approach to past transactions
• Are your superannuation savings goals on track?
• GST treatment of credit card surcharges – GSTR 2014/2
• Tax Inspector’s proposed new complaint-handling powers

December 2014 & January 2015 Report

The December 2014 – January 2015 Report has been released and covers topics including:

• Project DO IT nearing end, taxman focus on non-disclosure
• Inbound tour operators to contact the ATO
• Tax win for retirement village operators
• Crowdfunding could have GST implication, says ATO
• Couple refused small business tax concession
• Employee share scheme reform on the way

November 2014 Report

The November Report has been released and covers topics including:

• Offshore amnesty nearing its end
• Subsidy to encourage employers to hire mature workers
• Doctor obtains tax relief for olive growing activities
• Tax claims for R&D costs mostly allowed
• Compensation for providing domestic help taxable
• Perfecting a security interest over corporate property

October 2014 Report

The October Report has been released and covers topics including:

• Mining tax gone but watch for associated tax changes
• Professional firms and profit distribution under security
• Dividend washing compliance still on ATO’s radar
• Rental property deductions – avoid common errors
• Data-matching offshore bank accounts
• Settlement for damages subject to capital gains tax
• Bitcoin tax guidance from the ATO

September 2014 Report

The September Report has been released and covers topics including:

• Share transfer to family partnership ineffective
• Property developers and use of trusts under scrutiny
• Residency depends on facts and circumstances of each case
• Billions lost in super waiting to be claimed
• ASIC eye on SMSF property investment advice
• Bad debt deduction for “unpaid trust entitlements” refused
• Family fails to prove assessments excessive
• Tax consequences following marriage break-up

August 2014 Report

The August Report has been released and covers topics including:

• Budget Levy from 1 July 2014
• PAYG instalment threshold changes
• ATO mining data to find offshore tax evaders
• Deductions for employee welfare fund denied
• Hunger relief organisation wins FBT exemption case
• Damages assessable to director personally
• Winemaker not taxable on property sale