Friday 6 Dec 2019
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Our Advent calendar for 2019
Tax Office sounds warning on 8 types of super schemes
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Impress your friends with your knowledge!!
Salary sacrificing and the superannuation guarantee
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Director Penalty Notices (DPN)
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STP to be increasingly monitored
6 new accounting related videos
GDP by country since 1800
Information needed to be the BBQ expert.
Employee or independent contractor: What happens when it goes wrong?
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Employee entitlements, ‘wage theft’ and Fair Work: Why it’s time to be proactive
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Pension deeming rates cut from 1 July 2019
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New ATO data-matching program – overseas movement data and HELP debt
ATO black economy strike force heads to Brisbane
Access to more resources and tools than most websites.
Tax Return Mistakes
SMSF advice appetite strong, says ASIC
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September 2019 - vital statistics for Australia
Tax Commissioner wants to turn black economy to ‘lighter shade of grey’
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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
Depreciation of Computer Software
After Budget Night May 2008, depreciation claims will reduce.

The new Federal Government is sending mixed messages about our computer industry and how development of our IT skills should be funded.

 

On the one hand, computer programming skills will give priority to potential migrants but claims for software expenditure are deferred by almost double.

 

Write-offs for tax depreciation purposes have been extended from two and a half to four years.  Any newly held software assets after 13 May 2008 including in-house software that a taxpayer develops or holds in some way can be written off for tax purposes only over four years. 

 

An upgrade to old software, provided it does not create a new or different depreciating asset, will not be affected.  We can see that all taxpayers will struggle with this concept - What is old?  What is new?  What is an upgrade?  What is a depreciating (intangible) asset?  How will anybody understand or know what to do?

 

Hopefully the Australian Taxation Office will give guidance in due course

 

 



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