Monthly Archives: October 2014

A new”ish” CGT rollover

The Government has introduced Tax and Superannuation Laws Amendment (2014 Measures No. 6) Bill 2014 into the Parliament. Most of the amendments in this Bill will be of no consequence for the majority of taxpayers. However, as a part of … Continue reading

Posted in Income Tax, Legislation | Leave a comment

FBT and Public Hospitals

FBT exemptions are amazing ways to reward employees. And one of the most used FBT exemptions relates to employees of public hospital. These employees can receive up to $17,000 worth of grossed up benefits. What does grossed up mean? That … Continue reading

Posted in FBT, Planning Idea, Rulings | Leave a comment

Tax policy without Parliament

In a media release the Finance Minister has announced he will be Implementing the Fuel Excise Indexation announced in the Budget, even though it looks like the government cannot get the amendment through the Senate. He will effectively tell the … Continue reading

Posted in Tax Policy | Leave a comment

Super paid for the dead… Required by law???

What do you do regarding super payments if an employee dies? In ATO Interpretative Decision ATO ID 2014/31 the Commissioner considers whether you have SG obligations on salary and wages paid to an employee after they died. In this case … Continue reading

Posted in Rulings, Super | Leave a comment

Capital losses and death… There still is some life in the losses

In relation to prior year net capital losses, if a deceased person had any unapplied net capital losses when they died, these can be taken into account in their final (date of death) return, but can’t be passed on to … Continue reading

Posted in Income Tax, Planning Idea, Planning Stuff | Leave a comment

Religious Practitioners and Fringe Benefits

Believe it or not, I get asked this question all the time so to save you asking me… Section 57 of the Fringe Benefits Assessment Act 1986 includes an exemption from Fringe Benefits Tax on benefits for certain employees of … Continue reading

Posted in FBT, Planning Idea, Planning Stuff, Rulings | Leave a comment

The end of Ireland as a global tax power…

In its most recent Budget, the Irish Government announced it would change its tax residence rules for companies – rules that have been used by thousands of multinationals to avoid tax. The residency rule currently are that a company is … Continue reading

Posted in Planning Idea, Tax Policy | Leave a comment