News

The Government has introduced legislation to impose goods and services tax (GST) on supplies of imported goods worth less than $1,000. The measures are scheduled to commence on 1 July 2017. The Treasury Laws Amendment (GST Low Value Goods) Bill 2017 was introduced into the House...

On 31 January 2017, the ATO released Taxpayer Alert TA 2017/1 Re-characterisation of income from trading businesses. The ATO said it is reviewing arrangements that attempt to fragment integrated trading businesses in order to re-characterise trading income into more favourably taxed passive income. Its concern arises...

The Administrative Appeals Tribunal (AAT) has confirmed that a mechanical engineer with a PhD qualification was not entitled to deductions for various work-related expenses of approximately $60,000 that he claimed in the 2014 tax year. This finding was made subject to certain minor deductions that...

A taxpayer has failed in his claim for deductions for overtime meal expenses, because he was not paid an allowance under an industrial agreement. Background The taxpayer worked for a building company. His responsibilities included project management, building construction supervision, quantity surveying and occupational health and safety....

Four taxpayers have been unsuccessful in their appeals before the Full Federal Court, in which they challenged assessments that dramatically increased their assessable income for certain income years. The central issue in each case was whether, in circumstances where the Commissioner has issued an amended...

The ATO will acquire data to identify individuals who may be engaged in providing ride-sourcing services during the 2016–2017 and 2017–2018 financial years. Details of all payments made to ride-sourcing providers from accounts held by a ride-sourcing facilitator will be requested from the facilitator’s financial...