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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

202

Published

March 16, 2023

Notes Online Home 2020 Tax Schools Day 1

This publication, as a whole, is available in HARDCOPY only.
These seminar notes cover the following topics:
• Recent developments affecting the 2020 individual (‘I’) return
• The ATO’s 2020 individual audit hot spots
• Other new developments for individuals
• Latest tax-effective planning strategies for individuals

Chapters and Articles in 2020 Tax Schools Day 1

The latest planning guide to salary packaging a car under an associate lease arrangement

The ‘double-dipping’ strategy for car expenses which are reimbursed by an employer

The ‘double-dipping’ strategy for depreciable assets which are reimbursed by an employer

Planning with the NEW catch-up concession for concessional contributions (‘CCs’)

The latest planning opportunities using the downsizer contribution concession

ATO releases NEW draft ruling for claiming transport expenses – TR 2019/D7

Recent residency developments affecting outbound and inbound individuals

CGT main residence exemption finally removed for foreign residents

ATO releases NEW ruling for claiming penalty interest – TR 2019/2

Government finalises NEW restrictions for claiming deductions for ‘vacant land’

Expanding the ATO’s granular data program

Real time messaging – ‘Individual Income Tax Return Profile Compare’

Net Medical Expenses Tax Offset (‘NMETO’) phased out – removal of former Item T5

Increased ATO data matching for personal super contribution claims at Item D12

The latest guide to accessing tax information for deceased taxpayers and the final ‘I’ return

Tribunal denies claims for share losses as taxpayer’s share activities not a business

New rules prevent excess contributions for employees working for multiple employers

Recent changes make salary packaging into super more attractive for employees

ATO and Tax Practitioners Board audit assault on work-related expenses

ATO ‘ramps up’ its scrutiny of rental properties following a 90% adjustment rate

Recent developments create new audit traps for home-based businesses

ATO increases its scrutiny over Uber and other ride-sourcing drivers through data matching