taxation

Superannuation

Continuing uncertainty about the future of super taxation has increased “precautionary” saving....

Policy & Regulation

Super multi-millionaires over-stated - O’Dwyer

Assistant Treasurer, Kelly O’Dwyer says it is wrong to suggest Australians can use the current super regime to amass multi-billion dollar balances....

Funds management

Family office investors will go offshore

Parliamentary committee warned that Australian family offices will look to invest offshore in the face of threats to their tax confidentiality....

Policy & Regulation

ATO warns breaches will not be quarantined

ATO warns that tax breaches in one sector will carry broad consequences, including for SMSFs....

Policy & Regulation

ATO CGT letters mostly wide of the mark

An Auditor-General’s report has revealed that if you’ve received a CGT letter from the ATO, it may well be wide of the market and have missed your share dealings....

Superannuation

Treasury clarifies super tax concession position

The Federal Treasury has taken the heat out of suggestions it’s Tax Expenditure Statements is a policy signal on super tax concessions....

Policy & Regulation

IGT backs ‘safe harbours’ as alternative current valuations rules

Safe harbours could provide a fairer valuations system then current legislation, while achieving the intended outcomes, the IGT believes....

Policy & Regulation

No red flag for declaring assets

Australian taxpayers who voluntarily disclose their offshore income and assets under Project DO IT will not face a ‘red flag’....

Policy & Regulation

ATO eyeing property investors: H&R Block

Property investors have been warned they be in the tax office’s sights and must remain wary of claiming deductions if their property hasn’t been leased out in the last fi...

Policy & Regulation

ATO renews crackdown on dividend washing

The ATO has announced it is entering its next phase of chasing up hundreds of taxpayers who may have entered into a dividend washing transaction....

Policy & Regulation

Tax dodgers urged to confess

Australians who have dodged tax outside Australia have less than five months to voluntarily disclose or face going to jail under the ATO’s Project DO IT....

Policy & Regulation

Introduce flat tax for low income earners and unemployed.

Income tax should be levied on a flat basis across all income recipients including the unemployed, benefits recipients and low income earners according to KPMG partner Be...

Funds management

Property investors failing to claim $17.5b in tax entitlements

Australian property investors are missing out on an opportunity to cut their taxable income by failing to correctly assess their property’s annual depreciation....