Tax on shares: ATO extends data matching program

The Australian Tax Office (ATO) is utilising data provided by the Australian Investments and Security Commission (ASIC) to data match share trades.

Contractor or employee? Defining workers in the gig economy

A former Foodora Australia delivery rider, Joshua Klooger, recently won an unfair dismissal claim despite a service agreement that classified him as an independent contractor. We explore the implications of the case.

No tax deductions if you don’t meet your tax obligations

New laws passed by parliament last month directly target the behaviour of taxpayers that don’t meet their obligations.

Accelerated tax rate reduction for small business

Small business is still a vote winner with the Government and Opposition teaming up to accelerate tax cuts for the sector by 5 years impacting on an estimated 3.3 million businesses.

Parliament recently passed legislation to accelerate the corporate tax rate reduction for corporate tax entities that are base rate entities (BREs)

New Business, TaxationShelley Wood2 November 2018small business, business, retail business

You can no longer claim deductions for travelling to your investment property

New rules came in to effect from 1 July 2017, that prevent taxpayers claiming a deduction for expenses they incur travelling to and from their residential investment property.

How did this become a political debate?

GST is applied to tampons but not to incontinence pads. Viagra is exempt from GST but nipple shields for breast feeding mothers are not. Breakfast cereals are GST-free but breakfast bars and drinks are taxable. We explore the political football of GST exemptions.

TaxationJPR BUSINESS GROUP2 November 2018tax, gst, goods and services tax

The new rules for gift cards – what you need to know

In Australia, around 34 million gift cards are sold each year with an estimated value of $2.5 billion. On average, an estimated $70 million is lost because of expiry dates.

Confusion reigns over superannuation transfer balance cap

A recent speech by the ATO’s Assistant Commissioner for Superannuation demonstrates the very practical problems with the new superannuation rules.

Reminder on cents per km car expenses rate

The cents per kilometre car expense rate increased from 66 cents to 68 cents per kilometre from 1 July 2018. Employers who use the cents per kilometre rate to pay car allowances for employees should ensure that car allowance rates are up to date.

Financial Accounting, TaxationJPR BUSINESS GROUP5 October 2018taxation, tax, expenses, business, small business

What does the China/US trade war mean to Australia?

As the bilateral trade war between the US and China heats up, we look at what this might mean to Australia caught between its cultural and military ties to the US and its strong economic relationship with China.

Financial AccountingJPR BUSINESS GROUP5 October 2018foreign trade, business, foreign policy, trade war