Sunday 27 Sep 2020
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Latest Accounting News
Hot Issues
September update of latest COVID-19 initiatives.
ATO JobKeeper 2.0 guidance surfaces
Expats Return to Australia – Travel Expenses
Profession to be relied on for post-JobKeeper turnover certificates
Update of Superannuation contribution rules from July 1, 2020
Expats & COVID-19 Impacts on tax residency
Economic recovery could be slower than anticipated: RBA
High Court rules in favour of employers on personal leave accruals
JobKeeper Phase 2 - Latest Update
Payroll Tax 2020 concessions and JobKeeper
High alert issued over myGov tax time scam
Extended director penalty regime to catch out ‘zombie companies’
SG amnesty deadline - 7 September
‘Hundreds’ to be contacted in ATO early super compliance blitz
90,000 SMEs to benefit from new JobTrainer program
Work Related expenses – 2020
‘Everyone is now on notice’: ATO acquires COVID-19 data on 3m Aussies
Extra Tools & Resources for our clients.
Year End Tax Deductions – “equipment”
Home Office Claims 2020
Early release of super sees ‘high take-up’
Tax time 2020: ATO homes in on rental deduction claims
ATO announces Div 7A COVID-19 assistance
‘HomeBuilder’ grants now available.
Articles archive
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Quarter 3 of 2008
Articles
Prescribed Private Funds
Work Related Deductions – Personal Care Services
Fringe Benefits Tax – Meal Cards

Deductibility of Interest to Acquire Units in Hybrid Trust

Migration Skills
Depreciation of Computer Software
Investment Property Deductions Disallowed
FBT and Laptop/Portable Computers
Tips When Selling A Property
2008 Company, Trust or Partnership Tax Return Checklist
2008 Individual Tax Return Checklist
2008 Superannuation Fund Tax Return Checklist
Apportionment of Home Office Expenses Affirmed
Investment Property Deductions Disallowed
Prescribed Private Funds
A prescribed private fund is a fund listed by name in the Income Tax Assessment Regulation 1997 as a prescribed private fund, but does not include any fund declared by the Treasurer, in writing, not to be a prescribed fund.

The application process and the requirements to establish a fund are set out in the Guidelines for Prescribed Private Funds.  These guidelines include a model trust deed. Prescribed private funds are established by businesses, families and individuals for philanthropic purposes and need not seek contributions from the public.  Distributions from the fund may only go to DGRs that are not ancillary funds or other prescribed private funds. A list of these deductible gift recipients (DGRs) is set out in the fact sheet Deductible gift recipients listed by name in the tax law (NAT 8443).  They can also be searched on the Australian Business Register at www.abn.business.gov.au   

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