Perks- Focussed, Client-driven Accounting & Financial Services Firm in South Australia & Northern Territory

Budget 2008-09: DIS on "Shed Case"

10.09.08

Readers will remember the bizarre decision by the AAT where it held that a shed used by a taxpayer qualified as a main residence from our April 2008 issue.

The Tax Office has since released a Decision Impact Statement outlining its view of the application of the CGT main residence exemption following the decision.

The Tax Office has stated that the decision reinforces its view that the determination of whether a dwelling is a taxpayer's main residence depends upon the circumstances of each case.

Tax Office Eyes Overdue Tax Lodgments
The Tax Office is eyeing companies, trusts, partnerships and individual taxpayers which have overdue income tax returns.

Tax Scams On Tax Office Radar
The Tax Office has recently highlighted the emergence of new tax schemes, warning taxpayers to be vigilant.

Education Tax Refund - Claims Check
The Tax Office will be data-matching with Centrelink to identify recipients who may be incorrectly claiming the education tax refund.

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