Newsletter
October 2011 Newsletter
Cash economy still on ATOs radar
The ATO has maintained a focus on its compliance activities in relation to small business performance benchmarking and the cash economy. Click heading to read further.read more
Don't take the bait on tax avoidance schemes
The ATO has recently identified a number of tax avoidance schemes which it says are a risk to small businesses. Click heading to read further.read more
Capital gains tax bills for failing test
The Administrative Appeals Tribunal has recently handed down two separate decisions concerning capital gains tax (CGT) concessions for small businesses. Click heading to read further.read more
Share trading business existed, says Tribunal
In an unusual decision, the Administrative Appeals Tribunal held a taxpayer was not a passive investor in relation to share trading activities and was carrying on a business of share trading for the year ended 30 June 2008. Click heading to read further.read more
Taxpayer loses excess super contributions tax appeal
A taxpayer has been unsuccessful before the Federal Court in appealing against a decision of the Administrative Appeals Tribunal. Click heading to read further.read more
SMSFs warned on improper lending of money
The ATO says it is concerned that some self-managed superannuation fund (SMSF) trustees are lending money on favourable terms from their SMSFs to people who provide advice or assist in the running in the fund. Click heading to read further.read more