Welcome to the April edition of Perks' Tax Alert - delivering to you the latest tax developments affecting you and your business.

Cash Economy Letters Encouraging Compliance, Says Tax Office
According to the Tax Office, its cash economy letter program is encouraging positive compliance behaviour.



Director's Penalty Notice Given When Delivered, Not Posted
The NSW Court of Appeal has made a decision concerning the period within which a director is required to take action in response to a director's penalty notice.



GIC And SIC Rates
The Tax Office has advised the general interest charge (GIC) and shortfall interest charge (SIC) rates for the fourth quarter of the 2010–11 income year.



Labour Hire Firms And Splitting Income Warning
The Tax Office is looking at arrangements where a discretionary trust is used to split the incomes of workers with their spouses.



Calculating Distributable Surplus When Tax Bill Amended
The Tax Office has responded to a court decision dealing with the calculation of a company's net assets and distributable surplus after an amended assessment is received.



Watch Out For Scammers, Says Tax Office
The Commissioner has reminded people to be aware of scam behaviour and to report anything suspicious.



Eye Glasses Discount Deal Throws New Light On GST Calculation
A retailer of spectacles has won a court case regarding the correct calculation of GST in relation to spectacles it sold to customers under a special promotion.



Tax Office's Approach To Self-Managed Super Funds Affected By Floods
The Tax Office has indicated how it will deal with SMSFs that own flood or cyclone-damaged buildings purchased under strict borrowing rules.



For further tax advice and to find out if and how these tax developments may specifically affect you, contact your Perks relationship manager.

This Tax Alert was compiled by Perks' Tax Consulting Specialists. For more information on these articles, contact Brian Nimmo or Neil Oakes. 

The following key dates are a guideline to allow clients to prepare for their taxation requirements.

21 Apr 2011	Activity Statements	March 2011 monthly activity statements: final date for lodgement and payment
21 Apr 2011	Activity Statements	Quarter 3 (January -March 2011) activity statements containing a monthly GST obligation: final date for lodgment and payment
21 Apr 2011	Activity Statements	Quarter 3 (January -March 2011) consolidated instalment activity statements: final date for lodgment and payment by a head company of a consolidated group
28 Apr 2011	Activity Statements	Quarter 3 (Jan -Mar 2011) activity statements: final date for lodgment and payment
28 Apr 2011	PAYG Instalments	Quarter 3 (Jan -Mar 2011) instalment notices – forms R and T. Final date for payment and, if varying the instalment amount, lodgment
28 Apr 2011	GST Instalments	Quarter 3 (Jan -Mar 2011) instalment notices – forms S and T. Final date for payment and, if varying the instalment amount, lodgment
28 Apr 2011	Super- annuation	Last day for superannuation guarantee contributions to be made to a superannuation provider for quarter 3 2010-11 (1 January - 31 March).
30 Apr 2011	Super- annuation	Lost member report for the period 1 July 2010 to 31 December 2010

Perks may be able to obtain extensions to the above dates for you if required. Please contact us to discuss your needs.

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