Monthly Archives: April 2016

Negative Gearing Equity?

The Government are being hammered for not removing negative gearing as it is not “equitable”. Those saying “equity” seem to have a different definition then the standard tax axioms but when asked what they mean they indicate that the benefit … Continue reading

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Taxpayers ALERT! Taxpayer ALERT!

I love “Taxpayer Alerts” as they sound like some robot warning us of impending danger. But what they really are is a lot more exciting (to me at least). When the Commissioner finds people acting in ways he thinks are contrary to … Continue reading

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Where have the bills gone?

I went looking for a Bill on the website. And it was not there. And after a bit of looking around I discovered something weird was happening. In March, the Prime Minister wrote to the Governor-General to ask him to prorogue … Continue reading

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Super Budget Changes

It is pretty clear that the Government will decrease the threshold for Div 293 tax to $180,000 in the upcoming budget. This will mean an effective rate of 30% contributions tax for those earning more than $180,000. But the other … Continue reading

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A quiz… What does the average tax agent charge to prepare an individual income tax return?

In the 2013/14 year the average tax deduction claimed for managing their tax affairs by the 6 million individual taxpayers who used a tax agent to lodge their return was $372. Was that your guess?

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More “innovation tax” changes

The next part of the Government “innovation tax changes” has been released in a draft Bill. This draft Bill implements the announcement last year to supplement the “same business test” with a more flexible “similar business test” to improve access … Continue reading

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More on the Small Business Rollover

Yes I am way too excited about this… But the Commissioner has produced his first two bits of guidance on using this rollover. In the first he looks at the consequences of using the rollover. This is all pretty simple stuff … Continue reading

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