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MYEFO 2018–2019

On 17 December 2018, the Government released the Mid-Year Economic and Fiscal Outlook 2018–19 (MYEFO). The MYEFO provides updated information on the Government’s fiscal position and includes policy decisions taken since the 2018–19 Federal Budget was handed down on 8...

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2018 Year-end Parliamentary wrap-up

That's a wrap! Now that the Federal Parliament has risen for the summer break, this is an opportune time to take stock of the key outstanding tax and superannuation measures. According to the draft Parliamentary sittings for 2019, Parliament is scheduled to next sit...

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Some movement on Div 7A … at last!

On 22 October 2018, the Treasury released a consultation paper titled Targeted amendments to the Division 7A integrity rules. The paper sets out the Government’s proposed implementation of the amendments to improve the integrity and operation of Div 7A of Part III of...

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Certainty at last for base rate entities … or not?

[print-me] After a long period of uncertainty, and in the midst of the recent Liberal Party leadership spill, the Senate on 23 August 2018 unexpectedly passed without amendment the Treasury Laws Amendment (Enterprise Tax Plan Base Rate Entities) Bill 2018 (‘the BRE...

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The SG Amnesty: What should employers do?

[print-me] There is much confusion among tax practitioners and their clients regarding the proposed Superannuation Guarantee (SG) Amnesty, which is intended to run for 12 months from 24 May 2018 to 23 May 2019. However, the SG Amnesty measures are not legislated yet...

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The Superannuation Legislative Landscape

[print-me] The Government’s Fair and Sustainable Superannuation Reforms have now been in place for over a year and the measures announced in this year's Federal Budget continue to make changes to the superannuation environment. It is with some challenge that we...

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Tax Fundamentals: CGT Events

[print-me] Pop quiz! … How many CGT events are there? Our Tax Fundamentals trainer, Lee-Ann Hayes asks this question often of her groups and enjoys the varying replies she gets back. She has heard everything from five to 200 CGT events. Occasionally, someone is a...

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The work-related expenses tax gap

[print-me] On 12 July 2018, the ATO published the income tax gap for ‘individuals not in business’, comprising around 9.6 million individuals who are not in business and earn income from salary and wages and investments. The estimated net tax gap for these individuals...

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