What do the substantiation exemption rules really require? A new determination on travel allowances provides some clarity. Plus, the incoming rules for GST on property developments, and the finalised housing integrity measure laws.
Join Michael Carruthers (Tax Director, Knowledge Shop), and Lisa Armstrong (MD, Knowledge Shop), for just the juicy bits of change for accountants and advisers:
- The ATO’s backflip on reasonable rates for travel allowances and the guidance on what the substantiation exception really requires (TD 2017/19).
- The new housing integrity laws – vacancy fees for foreign owners of residential property and the limitations to residential rental property deductions
- The sweeping changes to how GST applies to property developments – the new exposure draft and how the system is likely to work