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Disclaimer
These notes are intended to be a guide only. None of the comments contained in these seminar notes are intended to be advice, whether legal, financial or professional. You should not act solely on the basis of the information contained in these notes because many aspects of the material have been generalised and the tax laws apply differently to different people in different circumstances. Further, as tax and related laws change frequently, there may have been changes to the law since the notes were written. Specific advice should always be obtained from a tax professional.

Document Type

Publication

Pages

234

Published

September 30, 2020

Notes Online Home 2019 Tax Hot Spots II

This publication, as a whole, is available in HARDCOPY only.

These seminar notes cover the following topics:
• Tax Gap Update
• What’s new
• CGT Update
• GST Update
• Division 7A Update
• Practitioner Issues

Chapters and Articles in 2019 Tax Hot Spots II

Recent Tribunal decisions hightlight traps with active asset classifications

Accessing SBE concessions for passive companies carrying on a business

Safe harbour compliance approach to dwellings acquired from deceased estate

Taxpayers seek Commissioner’s Division 7A discretion to disregard dividends

Dealing with ‘bucket company’ sub-trusts that are maturing in the 2020 income year

GST and property transactions

GST estimates and Director Penalties

Denial of input tax credits

Director Penalties and running balance accounts

Protecting yourself against claims from clients

Tax agents must keep their ‘own house’ in order or risk the wrath of the TPB

The ATO on the ‘warpath’ over WREs

Work-related car expense claims

Rental property claims

Taxpayer denied access to 50% CGT general discount because of CGT roll-over

Government denies holding cost claims for vacant land from 2020

Deductibility of environmental protection activity expenses- TR 2019/D3

Deductibility of penalty interest loans

Aligning access to Genuine Redundancy concessions with the Age Pension age

NEW expanded Black economy measures in operation from 1 July 2019

Greater access to company tax losses with Similar Business Test finally enacted

Understanding the latest ‘Uber’ and other ride-sourcing tax developments

Recent Court decisions provide residency clarity for individuals working overseas

Single Touch Payroll reporting- where are we at?

Paying superannuation to backpackers

Relocation expenses- are they deductible?

Recent cases highlight inherent conflict when paying out super death benefits