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Notes Online Home 2014 Tax Schools Day 2 What's new for business in 2014
In this chapter of the notes we discuss the newest updates for businesses in 2014. These changes are examined under the following broad headings:
- Government announces major overhaul to SBE depreciation rules
- New labels and changes to business returns in 2014
- New ATO ruling highlights tax bombshell with Division 7A and divorce
- New ATO ruling gives the green light to taxpayers deferring prepaid income
- ATO launches attack on professionals and income splitting
- CGT sting for taxpayers claiming CGT concessions on commercial rental properties
- Landmark Ruling highlights CGT jolt for taxpayers moving from cash to accruals
- Latest developments with the SMSF borrowing concessions
- Other developments for business in 2014