Knowledge Shop Blog

Dec 2017 Tax Round Up - ATO backtracks on reasonable rates for travel allowances

Knowledge Shop Editor | 01/12/17 10:04

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. Members can download the full December 2017 Tax Round Up from the member-only website. To see what Knowledge Shop membership offers, call Julie on 1800 800 232 or take a tour online.
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Tax Round Up

Top Superannuation Q&As - property flipping inside an SMSF, recontributions and more

Knowledge Shop Editor | 27/11/17 12:18

This month's top superannuation Q&As live from the Knowledge Shop Help Desk: Property flipping and renovating inside an SMSF   Treatment of recontributions Tax treatment of contribution splitting for the receiving spouse Segregating a property asset between SMSF members When is an actuarial certificate necessary post 1 July 2017? The pooled approach and transitional CGT relief for pensions in excess of $1.6m The treatment of a SMSF in excess of the $1.6million Transfer balance cap.
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Superannuation, Q&As, Accountants Q&As, Super, Superannuation Q&As

New legislation restricts access to the reduced company tax rate

Michael Carruthers | 19/10/17 12:18

Legislation restricting access to the small business company tax rate reduction entered Parliament yesterday. Treasury Laws Amendment (Enterprise Tax Plan Base Rate Entities) Bill 2017 limits access to the 27.5% company tax rate by replacing the ‘carrying on a business test’ with a ‘passive income test’. Under the new rules, to access the reduced company tax rate, 80% or less of the entity’s assessable income must be passive in nature.
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Company Tax

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