International Tax News

Twitter Updates

#Accountantsdaily: #ATO copping heat re online materials which create negative perceptions of the financial advice profession
#AFR - China’s Communist Party said to mount an ideological defence to monopoly on power… reject any idea it would follow the West
#AFR - #KPMG property consulting arm has been accused of giving misleading advice over the condition of lifts in a commercial building
House of Reps to hold a public hearing Wed 18.10.17 to discuss with experts the world of blockchain technology and bitcoin trading
Senate Committee recommends 0.5% increase the Medicare levy (i.e. from 2% to 2.5%) effective 1 July 2019 to fund the #NDIS
Legislation to deny a #company with passive income (i.e. rent, dividend, interest etc) the lower 27.5% corporate tax rate is in Parliament
Full Federal Crt holds in #ATO favor: Notice to the #Taxpayer to give $335k security for an unpaid GST liability was constitutional & valid
#SMSF cost blow out predicted as #ATO requires all #Super funds to provide reports about account activity more frequently.
Pt 1: Family home: You don't pay CGT if you sell your principal place of residence. However you need to keep records if you rent it out
Pt 2: Herein are situations that may trigger CGT - https://t.co/Xnm0YUoVF1
Minister of Small Business: 300,000 small businesses have taken advantage of the Government's $20,000 instant asset write-off
#RBA to conduct a series of stress tests on Australia’s banking system catered at the Individual Bank reaction not the group as a whole
#ATO expects smaller businesses with less than 19 employees to have implemented Single touch payroll by 1 July 2019,
#QLD man charged with Identity Fraud 42 bank accounts linked to 54 unique #tax file number
#ATO commences assistance program for small businesses that have recently registered for an #ABN and/or #GST and a turnover <$2m
Fed. Crt. – decides against Unions in the Fair Work Commission weekend penalty rate decision & confirms Fair Work’s cut to penalty rates
#ASIC – New Industry-funded levying corporate sector will raise $246.2m with advice licensees expecting to raise $29m of the total
Pt 1: #RBA – Approx. 50% of investment properties are owned by investors with more than 1 property. Further, 30% have 2 or more properties
Pt 2: #RBA highlights concern as a high number of investors over 60yo and most of these mortgages are negatively geared
#Property – Victorian Broker, part-owned by a Hong Kong real estate group enters the home loan market with a new line of mortgage products

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