Perks Chartered Accountants
Chartered Accountant Alert
 

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


Whether a Property Constitutes Residential Premises for GST Purposes
The Full Federal Court has handed down a ruling in relation to the phrase “residential premises to be used predominately for residential accommodation”.



Tribunal Can’t Review Private Ruling Decision as Ruling Given for Wrong Years
The Administrative Appeals Tribunal has made a decision regarding a taxpayer’s objection against a private ruling.



Retirement Village Scheme Deductions Wrong, but Taxpayers Took “Reasonable Care”
The Administrative Appeals Tribunal has remitted penalties imposed on taxpayers who had claimed deductions relating to their retirement village scheme investment.



Refunds for Overpayments of GST
The Tax Office has released a ruling which sets out the Commissioner’s views on the tax provisions which restrict refunds that can arise from the overpayment of GST.



Automated Tax Deduction for Youth Allowance Recipients
The Tax Office has responded to a recent High Court decision dealing with education expenses incurred by a Youth Allowance recipient.



“Loan” from Private Company an “Honest Mistake”?
The Tax Office has issued a ruling regarding the Commissioner’s discretion in situations where an honest mistake or inadvertent omission has occurred to cause the operation of a dividend deeming rule.



“Stronger Super” Reforms on the Horizon
The Government has announced its support for most of the wide-ranging Cooper Super System Review recommendations.



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.

15 Jan 2011 Income Tax

Due date for lodgment of income tax returns for companies, superannuation funds and trusts that were taxable large/medium business clients in the prior year and are not required to lodge earlier.
21 Jan 2011 

Activity Statements

December 2010 monthly activity statements: final date for lodgment and payment.
21 Jan 2011 Activity Statements

Quarter 2 (October - December 2010) consolidated instalment activity statements: final date for lodgment and payment by a head company of a consolidated group.
21 
Jan 2011		 Activity Statements

Quarter 2 (October - December 2010) activity statements containing a monthly GST obligation: final date for lodgment and payment.
28 Jan 2011 Superannuation 

Last day for superannuation guarantee contributions to be made to a superannuation provider for quarter 2 2010-11 (1 October - 31 December).

If an employer does not make the minimum superannuation guarantee contributions for quarter 2 by this date, they must pay the SGC and lodge a Superannuation guarantee charge statement - quarterly (NAT 9599, PDF 136KB) with the ATO by 28 February 2011. The SGC is not tax deductible.

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

Contact Perks

Adelaide
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Eastwood SA 5063
T: (08) 8273 9300
F: (08) 8274 1466
Web: perks.com.au

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Victor Harbor SA 5211
T: (08) 8552 3711
F: (08) 8552 3771

Darwin
59 Smith Street
Darwin NT 0800
T: (08) 8941 8600
F: (08) 8941 9600

Alice Springs
73 Hartley Street
Alice Springs NT 0870
T: (08) 8953 4400
F: (08) 8953 4599

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The Perks Chartered Accounting Alert has been produced as a guide to clients. The items in this Alert are general comments only and do not represent advice. The facts of each particular situation may vary and changes in legislation may occur quickly and at any time. We recommend that our specific advice be sought before acting in any of these areas.

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