The new temporary full expensing rules provide businesses with a turnover of up to $5 billion with an immediate deduction for 100 per cent of the cost of eligible depreciating assets. The provisions are set out in new Subdiv 40-BB of the Income Tax...
Tax Yak – Episode 5: Catching up on cases
In this episode of Tax Yak, host Robyn Jacobson yaks with Webb Martin Consulting Director Graeme Prowse about some recent cases.
They discuss the recent Full Federal Court decision in Aussiegolfa, which considered the operation of the in-house asset rules and the sole purpose test for a self managed fund which had an interest in a trust that held a property which housed the SMSF member’s daughter. So were they successful?
Then they consider the implications of the Full Federal Court’s decision in Sharpcan which considered yet again the revenue–capital dichotomy.
Finally, there continues to be uncertainty around the operation of s. 100A, and what is an ’ordinary family or commercial dealing’. Find out where this is at.
Host: Robyn Jacobson
Guest: Graeme Prowse
Recorded: 19 October 2018
The JobKeeper payment scheme – your questions, answered
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