International Tax News

Twitter Updates

#AFR – Pt 1 Cranston Files: Mexican restaurant chain linked to alleged ringleaders of the Plutus Payroll fraud before winding up company
Pt 2 – Cranston Files: Los Vida’s 5 Mexican restaurants run by Mark Dopson used Plutus payroll provider with a straw director
#AFR - 13 out of 22 Coalition ministers are a beneficiary or trustee of a trust. 4 out of 22 shadow ministers disclosed a trust interest
#AFR - Labor policy includes curbing negative gearing & #CGT discount; a $3000 limit on deductions for tax advice; clampdown on Trusts
CAANZ News: Bill Shorten flags tax reform as key battleground for next Federal Election in ALP’s effort to address inequality
Trust Distributions Pt 1: #ATO assesses Trustee of Trust (Sec 100A) for distributions after Adult beneficiaries gift their income to parent
Pt 2: #ATO labelled the distributions and gifts between the beneficiaries as a reimbursement arrangement which are contrary to S.100A
Pt 3: Taxpayers failed to attend hearing. The request for interlocutory injunctive relief dismissed. This case is a concern to all Trustees.
First fines for overdue ACNC returns issue as 8% of charities fail to lodge 2016 return (Annual Information Statement)
Finance Experts - Responsible investing strategies are delivering superior returns to traditional active and passive
#Tax Agents still suffering intermittent issues #tax return lodgment via the practitioner lodgment service
Pt 1: New Loss Carried Fwd. Test passes House of Reps: #ATO issues guidance on proposed ‘similar business test’ for small businesses
Pt 2: It would operate in a manner comparable to the same business test, but would remove negative limbs which apply as part of that test
Pt 3: A company must satisfy the similar business test to access losses. 'similar' does not mean similar 'kind' or 'type' of business
Pt 4: Contact Hayden –
#Tax Practitioners Board warns Accounting Association that being a Member does not entitle that member to be registered as a #Tax Agent
Big Business: #ATO now accepting Country-by-Country lodgments
Pt 1: #ATO releases draft Law to remove CGT main residence exemption for foreign residents who own properties qualifying as a main residence
Pt 2: At the same time #ATO withdraws 10 #CGT interpretive decisions on CGT: main residence exemption
#Reserve Bank warns competitive tensions in home loan market are driving risky lending practices among the banks

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