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1. ATO’s Compliance Program for 2008-09 released
On 13 August, the Commissioner of Taxation released the ATO’s ‘2008-09 Compliance Program’ at a gathering in Parramatta at which the Institute was represented by our CEO, Graham Meyer, and Tax Counsel, Ali Noroozi.
There does not seem to be a great deal of change from last year and the ATO’s continues to have a “prevention is better than cure” approach. The additional Government funding of $700 million, improved analytical skills, cooperation with other government agencies as well as revenue authorities overseas and a goal of raising significantly more revenue will mean taxpayers will be under more scrutiny particularly if they fall in the high wealth individual and large business categories.
Some of the highlights of the program are set out below under the relevant categories:
Tax practitioners:
- Acknowledgment of the central role that tax practitioners play in the system including their role in the consultation process through their professional bodies. It is also found that vast majority of tax agents comply with their own obligations.
- Whilst tax agents are reporting high levels of satisfactions with the ATO services, the ATO is continually seeking to improve in this area. For example, the ATO piloted a ‘Professional to professional’ service which provides a direct service for agents to discuss complex technical issues.
Individuals:
- For investors, the focus will be on capital gains, rental income and financial products.
- Incorrectly claimed work-related expenses remain a concern.
- Expansion of the review of the remuneration package of senior executives to those in private and foreign-owned companies.
- Over-claiming deductions for superannuation contributions and excess contributions.
Micro enterprises:
- Employers who do not pay the correct superannuation guarantee contributions or not offering choice of superannuation fund.
- Focused cash economy strategy that includes regional activities, business-to-consumer transactions and micro enterprises with conspicuous consumption or multiple obligations.
- Other areas of focus will be international dealings, CGT on sale of assets and investments and managing tax debit.
Small to Medium Enterprises (SMEs):
- Additional funding from the Government to expand the High Wealth Individuals Taskforce.
- The ATO will seek judicial clarification on a number of trust issues including the effectiveness of clauses in trust deeds that seek to equate trust income with trust taxable income.
- Area of focus will include capital management, international transactions, tax planning around business exits, service trusts and phoenix arrangements.
Large businesses:
- Support implementation of new measures such as taxation of financial arrangements.
- Additional government funding for income tax compliance to expand coverage, respond to emerging risks and deal better with increasing complexity. This applies to other taxpayers particularly to the larger SMEs.
- Similar to last year, areas of focus include:
- mergers and acquisitions, corporate restructures, hybrid capital raisings and asset infrastructure deals; and
- international issues including global corporate restructure that shift assets, functions and risk offshore, financial arrangements whose success relies heavily on artificially- generated tax benefits in Australia and transactions that re-characterise interest, dividend or royalty income to avoid non-resident withholding tax and seek other tax benefits.
Non-profit organisations:
- Focus on arrangements that seek to abuse the concessional status of charities and deductible gift recipients, including arrangements that seek to manipulate access to the GST concessions.
Serious abuse of tax systems:
- Continuing efforts to tackle areas such as cross-border tax crime (including project Wickenby) and refund fraud.
The relevant ATO’s press release is available here.
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2. Tax system and global competitiveness
On 11 August, in an address to the Global Foundation, entitled ‘Getting ahead of the game’, the Treasurer, the Hon Wayne Swan MP, said that long-term modernisation of the tax system is a key part of the Governments efforts to underwrite Australia’s global competitiveness and to lift productivity. The Treasurer referred to the Treasury discussion paper, ‘Architecture of Australia’s tax and transfer system’, and said that one of the observations made in the paper is that while our tax burden compares favourably against our OECD peers, it is significantly higher than our immediate neighbours.
The Treasurer also identified three main priorities for the review:
- Making our tax system more internationally competitive;
- Rewarding hard work by untangling the disincentives which result from the complex interactions between the income tax and welfare systems; and
- Harmonising and simplifying a system which has become too complex.
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3. Senate’s hearing on Schedule 2 of the Tax Laws Amendment (2008 Measures No.4) Bill
On 12 August, Ali Noroozi (Institute’s Tax Counsel) and Julian Cheng (Deloitte), representing the Institute, appeared before the Senate Standing Committee on Economics who are conducting an inquiry into the Tax Laws Amendment (2008 Measures No.4) Bill 2008.
As was reported in Edition 27/2008 of the Tax Bulletin, the Institute lodged a submission in relation to this inquiry which focused on the proposed repeal of certain measures relating to family trust elections enacted by the previous Government last year.
Both in the submission and at the hearing, the Institute has urged the Government and the Senate respectively not to proceed with the proposed repeal. Interestingly, the evidence by the Department of Treasury at the hearing confirmed that the repeal of these measures would not result in any significant savings which was the Government’s main motivation.
Further details on the Senate’s inquiry including the transcript of the hearing, please go here.
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4. Meeting with ATO to discuss service entity and alternative structures
On 11 August Susan Cantamessa from the Institute, together with a number of representatives from our service entity subcommittee, attended a meeting with the ATO at which the ATO provided an update on its activity in relation to service entity arrangements and discussed, on an informal basis, arrangements in the market place established as alternatives to service entity arrangements. In this regard we note that the ATO's 2008-09 Compliance Program indicates that the ATO is measuring the effectiveness of its strategies to improve voluntary compliance in relation to service entity arrangements and is also monitoring changes in professional structures.
If you would like more information regarding matters discussed at the meeting please email us at mailto:taxgroup@charteredaccountants.com.au.
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5. NTLG FBT sub-committee meeting
On 14 August, Paul Ellis (EY) and Elizma Bolt (Deloitte) and Norman Kang represented the Institute at the National Tax Liaison Group (NTLG) FBT subcommittee meeting. Key issues discussed included:
- Employee Savings Plan (TA 2008/13) and salary Deferral arrangements (TA 2008/14);
- Meaning of ’primarily for use’ in the employee’s employment;
- Clarification on the term ‘substantially identical functions’;
- Jointly held assets;
- Car parking and market value basis;
- Reportable fringe benefits, shared/pool cars and e-tags;
- Processing of FBT returns application and updating of MT 2024 – dual cab eligibility for exemption where private use is limited to certain work travel.
For more detail on the above issues or other topics discussed, please refer to the agenda of the meeting (without the ATO’s response) which is available here. The ATO’s response will be available once the draft minutes of the meetings are approved. They will be published on the ATO’s website and a link provided in the Tax Bulletin.
The next meeting will be on 13 November 2008. If members have any issues they would like to raise please email these to mailto:taxgroup@charteredaccountants.com.au.
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6. Bookkeeper Advisory Group meeting
On 15 August, Norman Kang attended the Bookkeeper Advisory Group (BAG) on behalf of the Institute. Key issues discussed at the meeting included:
- BAS service provider (BSP) products and services
- BSP seminars – evaluation overview and a snapshot of the bookkeeper environment
- Aspects of the draft Tax Agent Services Bill 2008 with a particular focus on gaining views from forum members on any issues relating to transition of BSPs to BAS agents
- Developing strategies and action plan in improving BSP capability.
Members can email us at mailto:taxgroup@charteredaccountants.com.au if they require further information on the above.
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7. Submission on ATO discussion paper on direct internal labour costs incurred on self constructed depreciating assets
On 8 August, the Institute lodged a detailed submission on an ATO discussion paper concerning the income tax treatment of direct internal labour costs incurred on self constructed depreciating assets.
This ATO discussion paper has been prepared “for the purpose of obtaining comments from interested parties” and the views in the paper are preliminary in nature. It centres around one example, being an “asset construction and maintenance division” of an energy utility
Broadly, the Institute's concerns include:
- The discussion paper cites authorities to support its views regarding capitalisation of direct labour costs, and rejects certain general propositions that have been advanced by several taxpayers, namely that:
- labour costs of employees that are not hired specifically to work only on capital projects are necessarily on revenue account; and
- labour costs of employees that spend time on both capital and maintenance projects are necessarily on revenue account.
However, it appears that the authorities cited in support of the ATO views are of lesser standing and applicability than authorities which support the taxpayer propositions.
- No guidance is provided as to what are construction activities and what are operational and maintenance activities. The Institute is concerned that the analysis of the facts is inadequate to enable a proper judgement to be made about interpretation of the authorities.
- As noted by Hill J in the Goodman Fielder Wattie Case, “there will be cases where it may be difficult to determine whether the expenditure should properly be regarded as on capital account or as on revenue account. Each case will depend upon its facts but the answer will not be directed merely by counting the number of hours in which the employee is engaged in activities in which themselves may be said to involve matters of capital. Further it will be necessary to determine whether the essential character of the expenditure is that it is a working expense. If it is, then it will ordinarily be on revenue account”. The Institute therefore considers that the use of an example which appears to focus on a counting of hours of work done by employees needs further work and analysis.
- The discussion paper includes comments about accounting treatment and its implications for tax purposes. However, the accounting principles relating to the capitalisation of expenditure in a reporting entity’s balance sheet differ in various ways from the test used for income tax purposes.
The Institute's submission is on the website together with the ATO discussion paper of 8 July 2008.
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8. Submission - draft legislation to reform Division 6C of the Income Tax Assessment Act
On 14 August, the Institute lodged a submission with Treasury on the draft legislation to reform Division 6C of the Income Tax Assessment Act. As reported in Edition 28/2008 of the Tax Bulletin, the draft legislation is intended to:
- clarify the scope and meaning of investment in land for the purpose of deriving rent;
- introduce a 25% safe harbour allowance for non-rental, non trading income from investments in land;
- expand the range of financial instruments that a managed fund may invest in or trade; and
- provide a further 2% safe harbour allowance at the whole of trust level for non-trading income.
In its submission the Institute, raises a number of concerns which if addressed may result in some benefits for certain taxpayers. The Institute also restates its view that more wide ranging reforms to Division 6C are required and anticipates that these will be dealt with by the Board of Taxation as part of its review of the tax arrangements applicable to managed funds.
The Institute's submission, which sets out its recommendations in relation to the draft legislation, is available on the website.
The draft legislation is available on the Treasury's website.
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9. Joint submission on draft determinations
The Institute has lodged a joint submission, available on the Institute website, on the following draft Taxation Determinations;
TD 2008/D9 - Income tax: consolidation: capital gains: do the core consolidation rules in Division 701 of the Income Tax Assessment Act 1997 modify the effect of the CGT contract rules if an entity contracts to buy or sell a CGT asset and the contract settles after the entity becomes, or ceases to be, a member of a consolidated group?
TD 2008/D10 - Income tax: consolidation: capital gains: for the purposes of Part 3 90 of the Income Tax Assessment Act 1997, is the CGT asset that an entity has contracted to buy from another taxpayer an asset of the entity at a time it joins or leaves a consolidated group, if the contract is not completed at that time?
TD 2008/D11 - Income tax: consolidation: capital gains: for the purposes of Part 3 90 of the Income Tax Assessment Act 1997, is the CGT asset that an entity has contracted to sell to another taxpayer an asset of the entity at a time it joins or leaves a consolidated group, if the contract is not completed at that time?
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10. Registration to be reinstated - Part IVA determination - Deputy Commissioner of Taxation; in the matter of James Hardie Australia Finance Pty Ltd (Deregistered) [2008] FCA 1181
The Federal Court (Lindgren J) has ordered that the Australian Securities and Investments Commission (ASIC) reinstate the registration of James Hardie Australia Finance Pty Ltd (ACN 089 600 760) (Deregistered) (‘JHAF’) under section 601AH of the Corporations Act 2001, as the Court considered that the Deputy Commissioner was a person aggrieved by the deregistration of JHAF.
The matter arose as the Commissioner wanted to make a determination under section 177F of the ITAA 1936, and make an amended assessment of the amount of JHAF’s taxable income and of the tax payable in respect of the year ended 31 March 2002. More specifically, the ATO had formed the view that Part IVA of the ITAA 1936 applied to a cross-border master repurchase agreement or “REPO arrangement” following inter alia an exchange of information with the United States Internal Revenue Service (IRS). The tax and shortfall penalties (excluding shortfall interest) were estimated at more than $150m. However, as the company had ceased to exist when deregistered in August 2005, the determination could not be made without reinstatement of JHAF’s registration.
Arguments against reinstatement, including that the Commissioner failed in his obligation under section 260-45(3) in Schedule 1 of the Taxation Administration Act 1953 to notify the liquidator of the amount that he considered enough to discharge any outstanding tax liability “as soon as practicable” and that substantial prejudice would be caused, were rejected by the Court.
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11. Partial disability payments not part of assessable income from business activity, losses from non-commercial business activities deferred - Watson v Deputy Commissioner of Taxation [2008] FCA 1173
The Federal Court (Mansfield J) has dismissed the taxpayer’s appeal against the Deputy Commissioner’s decision that payments received under a personal income protection insurance (PIP) policy were not assessable income from his business activity as a financial planner. Thus the payments could not be used to offset the loss of the financial planning business, which was deferred under Division 35 of the ITAA 1997 – i.e., the provisions on the deferral of losses from non-commercial business activities. (The PIP partial disability payments received by Mr Watson were part of his assessable income).
The appellant’s financial planning business operated at a loss for the 1994 year of income, but it would not have done if Mr Watson could have included the income from the PIP policy as assessable income ‘from the business activity’ because under section 35-30(a) the assessable income from the business activity for that year would be at least $20,000, and would also exceed its expenses. Alternatively, the payments under the PIP policy, if included in each of the five years from 30 June 1999 to 30 June 2004 inclusive would mean that the profits test in section 35-35 would be satisfied.
However, the court considered that it was clear that the payments under the PIP policy were unrelated to the taxpayer’s business as a financial planner, stating that the payments ‘… were to substitute for the income he may have earned in the business but for his partial disability. But there was no element of the business to which they were connected. Their only relationship to the business is that eligibility for the payments depended on the fact of ongoing partial incapacity to conduct the business as Mr Watson had previously done, and that the PIP policy quantified the contractual entitlement by reference to Mr Watson’s income from the business, adjusted as agreed in the PIP policy. Those are merely events which the PIP policy was expressed to operate upon. The relevant payments under the PIP policy, however, had no causative connection with the business so that they could be regarded as income from the business or from the business activity’ (at para 50).
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12. Claims for motor vehicle expenses and business expenses relating to business in Iraq not justified - Latif v Commissioner of Taxation [2008] AATA 675
The Tribunal has affirmed the decisions of the Commissioner finding that deductions claimed for motor vehicle expenses (using the log book method) and expenses for telecommunication businesses allegedly offering a tele-housing facility in Iraq for the 2001 and 2002 income years were not justified.
The Tribunal decided that a log book had not been sufficiently maintained by the taxpayer (as required under subsection 28-125 of the ITAA 1997) so it followed that this method was not justified as a basis for claiming deductions. Therefore, the calculation of motor vehicle expenses was remitted back to the Commissioner to consider adopting either the 12 percent of original cost method or the one-third of actual expenses method.
As to depreciation for computer equipment and other claims associated with the alleged telecommunication business in Iraq, the Tribunal found that there was no evidence to justify the claimed expenses.
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13. Amended assessment not excessive, penalty rate correctly applied – Zhu v Commissioner of Taxation [2008] AATA 692
The applicant worked as a dim sim pastry cook at a restaurant. For the 2004 income year, he disclosed an amount of $18,200 as assessable income. After an audit of the taxpayer’s employer, the ATO amended the taxpayer’s assessment by $20,725 and imposed a penalty at the rate of 25 per cent of the shortfall for lack of reasonable care.
The Tribunal held that the applicant taxpayer had failed to discharge the burden of proving that the assessment was excessive, finding that the most cogent evidence before the Tribunal was a spreadsheet showing the applicant’s true gross income at $38,925. This was supplied by the restaurant’s legal representatives.
As to the penalty rate applied by the Commissioner, the Tribunal stated that such conduct would normally attract a penalty of 50 per cent but given that the taxpayer had relied on the employer’s earnings statement which was substantially less than real wages (as the rest was paid in cash wages which the taxpayer was aware of), the 25 per cent penalty was appropriate.
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14. Decision Impact Statements (DISs)
The ATO issued DISs on 12 August in respect of the following:
Brady King Pty Ltd v Commissioner of Taxation, which has been updated to reflect the decision of the Full Federal Court. The case concerned the application of the GST margin scheme to sales of stratum units following the acquisition of an office building and its conversion into stratum units, and in particular whether the units were held or acquired before 1 July 2000. More specifically, the Court decided that Brady King, by holding or acquiring contractual rights as the purchaser under an uncompleted contract of sale, held or acquired a sufficient interest in the relevant property for the purposes of Items 1 and 3 in section 75-10(3), as reported in Edition 24/2008 of the Tax Bulletin. The Commissioner will not apply for special leave to appeal to the High Court against the decision of the Full Court.
Ostwald Bros Civil Pty Ltd atf Ostwald Bros Family Trust v Commissioner of Taxation, where the Full Federal Court allowed the Commissioner’s appeal, finding that an energy grants credit in respect of the construction of a rail line and access road to carry minerals from a mine site to a port should be disallowed, as reported in Edition 22/2008 of the Tax Bulletin. The DIS states that the decision of the Full Court aligns with the ATO’s interpretation of the legislation as outlined in PGBR 2005/2.
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15. Taxation Determinations
TD 2008/23 - Income tax: are the active assets of a partnership, in which a foreign company is a partner, active foreign business assets of the foreign company for the purposes of the capital gains tax participation exemption provisions contained in Subdivision 768-G of the Income Tax Assessment Act 1997? This ruling was released in draft form as TD 2007/D6
TD 2008/24 - Income tax: can section 23AJ of the Income Tax Assessment Act 1936 apply to a dividend when it is paid by a company (not being a Part X Australian resident) to an Australian resident company which receives it in its capacity as a partner in a partnership? This ruling was released in draft form as TD 2007/D14
TD 2008/25 - Income tax: can section 23AJ of the Income Tax Assessment Act 1936 apply to a dividend paid by a company (not being a Part X Australian resident) to the trustee of a trust, even where the trustee then pays an amount attributable to the dividend to an Australian resident company beneficiary? This ruling was released in draft form as TD 2007/D15.
The joint submissions lodged by the Institute and various other professional bodies on the draft determinations, is available on the Institute website.
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16. ATO Interpretative Decision
ATO ID 2008/113 - Transfer from foreign superannuation fund to complying superannuation fund
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17. House of Representatives’ draft legislation program – 2008 Spring sittings
The House of Representatives has released its draft legislation program for the period 26 to 28 August. It is expected to resume debate on Tax Laws Amendment (2008 Measures No. 4) on 28 August.
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18. House of Representatives’ draft legislation program – 2008 Spring sittings
The Senate has released its draft legislation program for the period 26 to 28 August and it is expected to resume debate on the following tax related Bills:
- Tax Laws Amendment (2008 Measures No. 3) Bill – 26 August
- Excise Legislation Amendment (Condensate) Bill – 27 August
Excise Tariff Amendment (Condensate) Bill
- Tax Laws Amendment (Luxury Car Tax) Bill – 27 August
A New Tax System (Luxury Car Tax Imposition — Excise) Amendment Bill
A New Tax System (Luxury Car Tax Imposition — Customs) Amendment Bill
A New Tax System (Luxury Car Tax Imposition — General) Amendment Bill
- Tax Laws Amendment (Medicare Levy Surcharge Thresholds) Bill – 27 August
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19. Legislation proposed for introduction and passage in the 2008 Spring sittings
The following tax-related Bills are proposed for introduction and passage in the Spring sittings:
- International Tax Agreements Amendment Bill which proposes to give:
- the force of law to the revised tax treaty with Japan; and
- the force of law to the new tax protocol with South Africa
- Tax Laws Amendment (2008 Measures No.5) Bill, which proposes to:
- provide a refund of 50 per cent for certain education related expenditure;
- make changes to the eligible investment rules for managed funds, including property trusts, in Division 6C of the Income Tax Assessment Act 1936;
- enhance eligibility to the capital gains tax concessions to small business;
- modify the capital gains tax scrip for scrip roll-over provisions and corporate restructures; and
- change thin capitalisation provisions arising from the adoption of Australian International Reporting Standards.
- Tax Agent Services (Consequential Amendments and Transitional Provisions) Bill which proposes to implement a new legislative regime for tax agent services.
- Tax Laws Amendment (2008 Measures No. 6) Bill which proposes to:
- amend the petroleum resource rent tax (PRRT) to address minor policy issues; and
- add certain organisations as specifically listed deductible gift recipients.
- Tax Laws Amendment (2008 Measures No. 7) Bill which proposes to:
- make amendments to foreign currency rules; and
- refine and clarify the rules in relation to consolidation and provide rules for the interaction between the consolidation regime and existing tax law provisions.
- Tax Laws Amendment (Taxation of Financial Arrangements) Bill which proposes to introduce measures dealing with hedging and new tax-timing arrangements including fair value, accruals, retranslation, realisation and hedging.
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20. Recent ATO publications
Booklets and publications
Common issues of concern - Product ruling general information, frequently asked questions and new information.
Tax help for those affected by the floods in the Northern NSW and South East Qld regions - Provides information about tax implications relating to payments made by the NSW and QLD state governments to victims of the January 2008 floods.
eLink 30/08 - Bulletin to inform tax practitioners of the most recent updates to ato.gov.au including a lead article titled 'Secondary digital certificates for your practice'. Issued on 6 August 2008.
Promoter correspondence - A summary of our most recent letters to all promoters of managed investment schemes.
Tax seminars for August - Kalgoorlie - Outlines the tax seminars scheduled for August 2008 for Kalgoolie.
Lost Member form addendum - Additional Members form.
Lost Members Statement paper form - Complete this Statement if you are a super provider or an authorised supplier of lost member information and are required to report information about lost members, or lodging a paper non-lodgment advice.
Tax seminars for September - Northern Territory - Outlines the tax seminars scheduled for September 2008 for the Northern Territory. Describes seminars for new businesses and existing businesses, as well as covering personal and business investment issues.
Administration
Pre-filling initiatives - Tax Agent Portal - The Pre-filling information has been updated to include several new data issues that have been identified, including Centrelink's Equine Influenza payments, private health insurance information being no longer available, Tax Office interest is available again.
Pre-filling initiatives - e-tax - Pre-filling is a service provided by the Tax Office that makes it easier for you to complete your tax return.
Tax Agent Portal 'Favourites' - The Favourites function within the Tax Agent Portal enables tax agents to add, update and delete a list of favourite websites and pages as well as sort portal reports in a preferred order.
Superannuation
Auditing a self managed super fund - These instructions for auditors of SMSFs provide questions and statements to consider when auditing a self managed super fund (NAT16308 , PDF, 133KB)
Changes to claiming a tax deduction for personal super contributions - This provides information on what you must do if a member wants to claim a deduction for personal super contributions.
Access to super for members with a terminal medical condition - Information about the legislation allowing tax-free lump sum payments to those with a terminal medical condition.
Access to super if you have a terminal medical condition - Answers to questions about accessing super tax-free if you have a terminal medical condition.
Non-profit
Non-Profit News Service No. 0212 - Clubs Consultative Forum - Aug 2008. Information about the Clubs Consultative Forum including its charter, members list and meeting minutes.
Minutes of meeting
NTLG Superannuation Technical Sub-group minutes - 16 June 2008 - NTLG Superannuation Technical Sub-group minutes from 16 June 2008.
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21. ANAO’s Planned Audit Work Program 2008-09 released
On 13 August, the Australian National Audit Office (ANAO) released its Planned Audit Work Program 2008-09 (the ‘report’) which outlines the proposed performance and assurance audit coverage for the period 2008-09. The report notes that the performance audit work in the Treasury portfolio remains focused on the ATO and the respective potential audits include the ATO’s:
- administration of the petroleum resource rent tax;
- compliance approach towards, and management of, small to medium enterprises;
- administration of the payment of tax by non-residents: follow up;
- implementation of its client management system;
- administration of the superannuation co-contribution;
- use of double tax agreement information; and
- the dividend imputation scheme.
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22. One million tax returns lodged online
On 11 August, the Commissioner of Taxation issued a media release announcing the reaching of the one-million milestone for online lodgements which is about 10 days earlier than last year, representing an 18 per cent increase. At the time of issuing the media release, 1,024,769 people had lodged their tax returns via e-tax.
The Commissioner cautioned taxpayers that although a lot of personal information can be downloaded directly into returns, taxpayers should carefully check their returns before submitting it to ensure all income and claimed deductions and rebates are correctly disclosed.
Lastly, the Commissioner said that as well as calculators and help screens, e-tax also offers advice on subjects like capital gains and losses, work-related expenses and provides links to other information on the ATO website.
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Chartered Accountants Buying and Selling a Business
Throughout September in Sydney and Melbourne. Minimise risk and optimise the benefit for your business or your clients with this 3 hour seminar on Buying & Selling a Business.
Chartered Accountants Tax Seminars for Practice
Seminar one - GST, CGT and Income Tax for Property Transactions
Seminar two - Buying and Selling a Business
Throughout September in Brisbane, Adelaide and Perth. Attend one seminar or both with GST, CGT and Income Tax for Property Transactions and Buying & Selling a Business scheduled on the same day for your convenience.
Chartered Accountants Technical Conference
Throughout October in Sydney and Melbourne. Addresses the latest legislation changes and technical details in separate streams for business and practice. The need–to–know updates that will make a difference to your growth.
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Help us to improve the bulletin by sharing your tax issues and experiences that might be of interest to other members. Responses should be emailed to taxgroup@charteredaccountants.com.au
Disclaimer
The Institute has created and maintains this tax bulletin as a service to its members and the community. While some of the information provided is about legal issues and legislation, it is not legal advice. The Institute does not expect or invite any person to act or rely on any statement, view or opinion expressed in this bulletin, and readers should make and rely on their own inquiries in making any decisions or giving any advice.
The Institute accepts no responsibility for any errors or omissions contained in this bulletin, and disclaims all warranties with regard to the information at this bulletin, including all implied warranties of merchantability and fitness for a particular purpose. In no event shall the Institute be liable for any loss or damage arising out of or in connection with the use of this bulletin or the information contained in it, including special, indirect or consequential loss or damage, and whether such loss or damage arises in contract, negligence, tort, under statute, or otherwise.
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