Superannuation Tax & Accounting

ATO Div 7A Divorce Dividends TD 2014/D11 TD 2014/12 TD 2014/13 TD 2014/4 GSTR 2014/D3 TR 2014/5 GSTR 2014/D2

Sept 2014 Tax Round Up - Divorce and Company Assets

1 min read

02/09/14 09:00

While the politicians are still locked down negotiating the Budget measures, the ATO have clarified their views in a number of important areas. Practitioners assisting clients with relationship breakdowns need to be aware of the ATO’s views in a controversial new ruling that highlights the tax risks that can arise when a private company transfers money or assets under a Family Court order. This and more in the online tax round up!

Knowledge Shop members, download the full tax round up covering all the key issues over the last month from the member's website (you will need to log in first).

This month:

The controversial new ruling on company transfers of assets or money under the Family Law Act and the potential tax impact on recipients
The tax treatment of credit card surcharges – why the ATO’s new draft ruling will be a surprise to many
Bitcoin and virtual currencies – the tax position explained
The ATOs warning on the Dempsey residency case and why you need to be certain of your facts
Tax treatment of interest on unclaimed super and the impact on temporary residents

Knowledge Shop members have access to the full tax round up covering all of the important issues - just so you don't miss anything. To see what Knowledge Shop membership offers, call Julie on 1800 800 232 or take a tour online.

Audit Shield covers the professional fees that help you assist your client to respond to an official audit, enquiry, investigation or review of returns lodged with the Australian Taxation Office (ATO) or other federal, state or territory government authority, agency or body.

More on Accountancy Insurance's Audit Shield

This information is general information only and not intended to be financial product advice, investment advice, tax advice or legal advice and should not be relied upon as such. As this information is general in nature it may omit detail that could be significant to your particular circumstances. Scenarios, examples, and comparisons are shown for illustrative purposes only. Certain industry data used may have been obtained from research, surveys or studies conducted by third parties, including industry or general publications. Knowledge Shop has not independently verified any such data provided by third parties or industry or general publications. No representation or warranty, express or implied, is made as to its fairness, accuracy, correctness, completeness or adequacy. We recommend that individuals seek professional advice before making any financial decisions. This information is intended to assist you as part of your own advice to your client. Use of this information is your responsibility. To the maximum extent permitted by law, Knowledge Shop expressly disclaims all liabilities and responsibility in respect of any expenses, losses, damages or costs incurred by any recipient as a result of the use or reliance on the information including, without limitation, any liability arising from fault or negligence or otherwise. While all care has been taken to ensure the information is correct at the time of publishing, superannuation and tax legislation can change from time to time and Knowledge Shop is not liable for any loss arising from reliance on this information, including reliance on information that is no longer current. Tax is only one consideration when making a financial decision.

← Can I apply the loss carry back rules in a 2013 tax return?

The Mining Tax Repeal – The impact on small business →