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Disclaimer
These notes are intended to be a guide only. None of the comments contained in these seminar notes are intended to be advice, whether legal, financial or professional. You should not act solely on the basis of the information contained in these notes because many aspects of the material have been generalised and the tax laws apply differently to different people in different circumstances. Further, as tax and related laws change frequently, there may have been changes to the law since the notes were written. Specific advice should always be obtained from a tax professional.

Document Type

Publication

Pages

252

Published

September 18, 2020

Notes Online Home 2017 Tax Hot Spots II

This publication, as a whole, is available in HARDCOPY only.

 These seminar notes cover the following topics:

  • What’s New in 2017
  • Recent CGT Developments 
  • RECENT Trust issues
  • Latest GST developments
  • Latest Practitioner issues 

Chapters and Articles in 2017 Tax Hot Spots II

Latest GST developments

Improving the integrity of GST on property transactions

Recent case law provides GST hit for taxpayers applying the margin scheme

GST – Proposed removal of double taxation of digital currency

Onus on taxpayer to prove GST assessment was excessive

Latest Practitioner issues

Data-matching gives ATO broader reach

Court requires ATO to rule on application of anti-avoidance rules

Tax blitz on accountants with clients operating in the black economy

Recent cases highlight the intricacies of bankruptcy rules on superannuation

Tax agent successfully challenges the termination of their registration

Recent CGT developments

Federal court decision broadens CGT roll-over for marriage breakdowns

Lump sum payments received by medical practitioners from healthcare clinics

Recent Trust issues

Taxpayer able to stream franking credits separately to underlying dividend

ATO backflip on trust distribution definition for family trust distribution tax

ATO provides debt exposure relief for legal personal representatives

Reforms expose resident discretionary trusts to exorbitant state taxes

What’s new in 2017

New ATO ruling changes the landscape for employees claiming travel expenses

New restrictions placed on rental property deductions from 1 July 2017

The NEW SBE landscape

The NEW company tax landscape

NEW ATO guidance confirms Division 7A can apply to commercial transactions

Government closes tax net on foreign resident taxpayers

Increases in the flexibility of the company loss rules – the business continuity test

NEW self-assessment for depreciation of certain intangible assets

Government’s recent focus on Superannuation Guarantee compliance

Accountants held ‘accessorily liable’ for client’s Fair Work breach

NEW ATO guideline provides big WIN for clients with unpaid present entitlements

ATO provides safe harbour for sportspersons

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