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Category Archives: Tax
Director penalty noitces – changes delayed
We have an update to our previous reports that the government is looking to extend the current Director Penalty Notice regime from unpaid PAYG to include unpaid superannuation. Yesterday, directors were given a temporary reprieve from the potential of personal … Continue reading
Charity donation schemes: ATO warning
The ATO has warned taxpayers of arrangements that promote tax deductions for gifts of pharmaceuticals to charities for overseas use, similar to that outlined in TA 2010/8 – Gift deductions for donation of pharmaceuticals to charities operating overseas. The ATO … Continue reading
Bill introduced: instant asset write-off, simplified depreciation, and superannuation
The Tax Laws Amendment (Stronger, Fairer, Simpler and Other Measures) Bill 2011 has been introduced in the House of Representatives. It includes the following amendments: increase the small business instant asset write-off threshold from $1000 to $6500, and consolidate the … Continue reading
