Banter Blog – Stay up-to-date with everything tax related!

Banter Blog – Stay up-to-date with everything tax related! 2017-10-20T17:09:08+00:00

Proposed changes to eligibility for company tax cut

1 November 2017|Categories: News|

Proposed changes to eligibility for company tax cut The highly anticipated measures that will prevent passive investment companies from accessing the lower corporate tax rate from 2017–18 were introduced into Parliament on 18 October [...]

ATO focus on work-related claims [Infographic]

1 November 2017|Categories: News|

An ATO crackdown on work-related expense claims has been a regular feature of Tax Time for the past few years. For 2017 tax returns, the ATO will be focusing on clothing-related expenses and car expenses. [...]

ATO focus on work-related claims

1 November 2017|Categories: News|

The ATO has an eye on every 2017 work-related expense claim As soon as Tax Time 2017 began, the ATO activated its version of a warning system via the Australian media to caution individual taxpayers and their [...]

Foreign Resident Capital Gains Withholding Rules

10 October 2017|Categories: News|

The ‘foreign resident’ capital gains withholding rules apply to Australian residents too The misnamed ‘foreign resident capital gains withholding’ (FRCGW) regime not only affects Australian residents but requires them to comply with legal obligations, and [...]

Australian House Prices [Infographic]

10 October 2017|Categories: News|

The misleadingly-named Foreign Resident Capital Gains Withholding rules now apply to transfers of Australian real property valued at $750,000 or more. This reduced threshold took effect on 1 July 2017 (previously it was $2 million). [...]

Company tax cuts: clarification made complex

10 October 2017|Categories: News|

Company tax cuts: clarification made complex UPDATE: On 18 October 2017, the Government tabled in Parliament draft legislation to introduce an 80 per cent passive income eligibility test for the lower corporate tax rate from [...]

Company Tax Cuts [Infographic]

10 October 2017|Categories: News|

This infographic shows how the company tax and dividend imputation systems have evolved over the decades. Change is ongoing, and in mid-May 2017 — a mere six weeks before the end of 2016–17 — company [...]

The New Franking Conundrum

8 September 2017|Categories: News|

Corporate clients are in the midst of finalising their 2016–17 financial statements, calculating tax liabilities and deciding how much of the year’s profits to pay out as dividends. This same process occurs each year … [...]