Blog

he Financial Adviser Standards and Ethics Authority (FASEA) has released the legislative instrument and explanatory statement for its examination standard. The legislative instrument was informed through consultation received in 26 submissions during the legislative instrument final consultation process for this standard...

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CodgStudyHome
It may pay to remind clients that could possibly be affected that the following pieces of legislation have not yet made it into law: Treasury Laws Amendment (Making Sure Multinationals Pay Their Fair Share of Tax in Australia and Other...

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WaitingHome
For more than two years now (from 1 July 2016) two key tax incentives have been available for investors considering putting their money behind qualifying start-up businesses - or as the ATO has dubbed them, early stage innovation companies (ESICs)....

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Monthly Newsletter – February 2019 – Tax incentive for angel investors in start-ups
Buying insurance within an SMSF can give access to deductible expenses that would otherwise not be available, as some insurance premiums, such as for life insurance (which typically cannot be claimed as deductions by individuals for income tax purposes) may...

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GardenDuckyHome
From 30 June this year, the general exemption from capital gains tax (CGT) for a principal place of residence will be lost to foreign tax residents. It is a change to the status quo that has been in place since...

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OverFenceHome
Practitioners’ views of the ATO’s existing tax agent and BAS agent portals will be many and varied, but it is not too long a stretch to say that the outcomes for tax professionals from both of these portals has been...

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ReachManHome
The ATO recently released a draft ruling (MT 2018/D1) that would mean claims for input tax or fuel tax credits would have a time limit imposed on them. The draft ruling sets out the Commissioner’s view on time limits applying...

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ClockWatchHome
Under common law, when an accessory is annexed to a principal asset (such as land) the accessory becomes part of that principal asset. Theoretically, without an adjustment to the tax rules, if the principal asset of land had been acquired...

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HouseFootprintHome
Over the calendar year 2018 there have been many notable tax and self-managed super developments. Apart from bringing news and updates to Tax & Super Australia members and many others, the newsroom page of our website can also serve as...

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ReadTabletHome
Various tax implications can arise when a debt becomes statute-barred. In simple terms, a debt is statute-barred when it has reached a statutory limitation period where it can no longer be legally recovered by creditors. Each state and territory in...

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StatuteDebtsHome