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Professional sportsperson's 'public fame' or 'image'- Tax treatment

post image The ATO has put out a Practical Compliance Guideline PCG 2017/D11 which addresses apportionment of payments for a sportperson's personal services vs payments for their image.

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How office work can kill you

post image Computers and smartphones have revolutionised the way we work, but our health is suffering in insidious new ways. The tip from ergonomics experts is: don’t just sit there, do something.
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You may pay tax on the sale of your home if you move overseas

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CGT liability of foreign residents.  The measures which will generally apply from 9 May 2017.

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Tax treatment of long-term construction contracts

post image The ATO has explained what accounting methods taxpayers can use for long-term construction projects. Two methods of accounting are available: the basic approach (essentially the accruals method) and the estimated profits approach.
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Fringe benefits tax: should an Uber be treated as a taxi?

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The ATO is now examining whether Uber trips should be eligible for the “taxi travel” FBT exemption. The Federal Court ruled that UberX drivers must be registered for GST, because they supply “taxi travel”. There has been much discussion of this finding since, and the ATO is now examining whether Uber trips should be eligible for the “taxi travel” FBT exemption.

Earlier in 2017, the Federal Court ruled that UberX drivers must be registered for GST, because they supply “taxi travel”. There has been much discussion of this finding since, and the ATO is now examining whether Uber trips should be eligible for the “taxi travel” FBT exemption.
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When to say no: Should you friend your boss on social media?

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Should you connect with your boss on social media? No? What if they ask first?  On the surface it seemed innocent enough!

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Budget changes to foreign resident CGT: draft legislation

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Draft legislation has been released to implement 2017–2018 Federal Budget measures relating to the CGT liability of foreign residents. The measures, which applied from 9 May 2017:

 


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It’s October: will the stock market crash?

post image It’s 30 years since the October 1987 crash, and 20 years since the Asian currency crisis. Should investors be worried about another stock market crash ?
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Tax cut closed off for passive investment companies

post image The Government has released exposure draft legislation to deny access to the lower corporate tax rate of 27.5% (down from 30%) for companies with predominantly passive income. 

 

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Homing in on holiday homes

post image The ATO is reminding taxpayers that it’s paying close attention to rental properties located in popular holiday destinations around Australia.
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