Categories
Funny Stuff GST Tax Policy

Queensland. Beautiful one day, tax insanity the next…

The Queensland government raises about $44 billion a year in taxes, fees… About 20% of this amount comes from the GST that is collected by the Federal Government and passed on to the states and territories. This makes the GST almost as large as all the other taxes combined that the Queensland government charges (all […]

Categories
Income Tax

Data matching gets all big brother

The Commissioner has announced another data matching program, but this is one is a bit different. The Australian Taxation Office will acquire details of entities from State and Territory motor vehicle registries for the 2013-2014, 2014-2015 and 2015-2016 financial years. And with these 2 million records (they are only looking at cars greater than $10,000 […]

Categories
FBT Income Tax Super Tax Policy

Tax Impediments Facing Small Business…

The Board of Tax report on Tax Impediments Facing Small Business has been made public. This report, and the Government’s response make some interesting reading. What do you think about: “Based on an analysis of business population data, the Board recommends that the small business entity turnover threshold be increased to at least $3 million and investigate the feasibility […]

Categories
Cases FBT

You win some, you lose some… and I am a bad loser…

I have patted myself on the back before for an AAT decision on FBT at my local airport. I may have congratulated myself a bit early as in Commissioner of Taxation v Qantas Airways Limited [2014] FCAFC 168 the Full Federal Court overturned there being no car parking FBT for employers who provide car parking for […]

Categories
Income Tax

The biggest share data match ever…

The Commissioner has announced the largest data-matching program regarding details of share transactions from share registries for the period 20 September 1985 to 30 June 2016. That is right, from 20 September 1985! Over 95 million records and 1.2 million individuals … He is looking for: Identify tax returns that may not include accurate information relating to the disposal of […]

Categories
Income Tax Legislation Planning Idea Planning Stuff Tax Policy

Start up Employee share scheme just got fun….

We have blogged about this before but we now have some draft legislation that will make 1 July 2015 lots of fun for advice to start up companies. While this draft legislation makes other changes as well**, this will also make remunerating certain employers lots of fun. These Start up companies will be able to […]