Category: Uncategorized
-
Traveling while “on call”
I’m “on call” so my travel to and from work is not private… Wrong… Sometimes… According to Draft Taxation Ruling TR 2019/D7, titled “Income tax: when are deductions allowed for employees’ transport expenses?”, travel of an employee while ‘on call’ may not be private, even if it is between home and a regular place of work. Importantly,…
-
Imputation and Base Rate Entities
How many franking credits can I attach to this dividend, 30% or 27.5%? I have been asked this question countless times since we introduced Base Rate Entities and the lower company tax rate of 27.5%. It is not a hard question to answer, but the Commissioner has made the answers easier by finalising Law Companion Ruling LCR…
-
Gloxinia dies – finally
In my small town (Canberra) we love property development which we can sell to well paid public servants. But there is something strange about Canberra (more than one thing but stay on point Ken). We don’t own our land, we lease it off the government for 99 year. And after the Gloxinia case (Commissioner of…
-
Love Equality!!! and Tax
You know you are not funny when you have to start a blog post with “please understand this is an attempt at humour and not some political/moral/ethical statement.” Simply put, I thought it might make you laugh… I’m angry! Really angry! Its 2019 and still the Government wants to regulate what type of love is…
-
I win my taxi war with the Commissioner
Recently I have been complaining that the Commissioner has decided the word “taxi” in the GST Act includes an Uber (so Ubers have to register for GST and so he gets more GST) but in the FBT Act the word “taxi” does not include an Uber (so the FBT exemption for taxis does not apply…
-
The “dream” of funding everything through stopping large corporate tax evasion just ended…
For years now, organisations like the Tax Justice Network and various news outlets have screamed about how evil multinationals and large corporates are regarding avoiding tax. The explain the utopia we could live in if they were required to pay the tax the law states they should pay. Lets hope they love reading this… The ATO…
-
We have tax legislation…
It has been a while but the Government is back with some new law. Yes I know we had the changes to the personal tax rates, but that was boring (changes to rates and thresholds). Now we have some real meaty changes to digest! The beautiful named “Treasury Laws Amendment (2019 Tax Integrity and Other…
-
Contradiction – A combination of statements, ideas, or features which are opposed to one another
The Commissioner has shown us his ability to bend and twist in relation to the FBT exemption that applies to taxi travel by an employee beginning or ending at the employee’s place of work. He states that the exemption is limited to travel in a vehicle licensed by the relevant state or territory to operate…
-
When does a company carry on a business?
This is an important question, primarily for the small business entity concessions which require the entity to be carrying on a business. It is also important for applying the lower company tax rate before 1 July 2017, when a company had to be carrying on a business to get the lower rate as the rate…
-
New powers for the Commissioner if he is concerned you won’t pay your tax
In a new Bill before Parliament (Treasury Laws Amendment (Combating Illegal Phoenixing) Bill 2019) the Commissioner gets some new powers. First, this Bill will allow the Commissioner to retain tax refunds where a taxpayer has failed to lodge a return or provide other information that may affect the amount the Commissioner refunds. The Commissioner may retain…
TaxRambling.com 