International Tax News

Twitter Updates

#GIC rate set to 8.7% p.a for the December quarter
Concerns draft #consolidation #legislation will disadvantage companies consolidated after 1 July 2016 https://t.co/zhLWaEV0SW
Improper recording of leave entitlements resulting in #Wages #Fraud issues
Draft #legislation on housing #affordability plan will see #CGT discount increased to 60% on affordable rental #housing
#Government announces #reforms to combat phoenix activities by introducing #director identification number and other measures.
#NABs monthly survey found #business conditions struck the highest level in nearly a decade and is consistent with recent #economic data.
#Government releases draft #legislation to implement elements of its housing #affordability plan.
#Superfund #industry furious over #Government legislation to overhaul superannuation funds.
Fiscally confusing statement: #OECD ‘Countries are using #tax policy to drive growth’.. (i.e. use of #tax policy to fund growth strategies
#ATO on ride-share: #taxpayer need to know how to calculate expenses and apportionment between personal and work-related use
Legislation has been introduced create a new complaints authority to service both #Superannuation and Financial services complaints
New Bill: employers will be prevented from using an employee's salary sacrifice to circumvent/reduce the 9.5% #super guarantee contributions
New #GST Bill proposes that supplies of digital currency receive equivalent #GST treatment as supplies of money, domestic & foreign currency
#ATO to reign in #HELP debt via reduction in #HELP minimum income threshold to $41,999 (from 1 July 2018) & replace all other thresholds
#REIA : Median house price across Australian continue to rise increasing by 1.8 per cent for houses and 2.6 per cent for other dwellings
Amendment Bill: requires one-third independent directors on the board of trustees of registrable #superannuation entities
#ATO issues guidance on Fixed entitlements and Fixed Trusts:- Practical Compliance Guideline PCG 2016/16
Pt 1: #Consolidation draft Bill proposes to:- prevent double benefit from arising in relation to deductible liabilities;
Pt 2: Ensure that deferred #tax liabilities are disregarded; removing anomalies with securitised assets joins/leaves consolidated group;
Pt 3: clarify the outcomes that arise when an entity holding financial arrangements leaves a consolidated group; and

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