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

Tax Law Amendments
A Bill to set the PAYG instalment rate for 2009/10 and to allow taxpayers who voluntarily registered for GST to report their PAYG instalments annually. 

Small Business and General Business Tax Break 
Changes to the one-off bonus deduction available to businesses that purchase eligible assets. 

2009 Federal Budget Follow-up 
A Bill introducing three measures announced in the 2009/10 Federal Budget, including the proposed reduction to the superannuation concessional contributions cap.



Medicare Levy Thresholds 2008/09 
Proposed increases to the Medicare levy and Medicare levy surcharge low-income thresholds for 2008/09.

Superannuation Guarantee Ruling 
A ruling setting out the Commissioner’s view on the treatment of payments, such as overtime payments and Christmas bonuses, made to employees for the purposes of superannuation guarantee.

Taxpayer Alerts
Five alerts issued by the Tax Office warning taxpayers of arrangements under review, including treatment of losses from the disposal of shares.



Deductibility of Self-education Expenses 
The Tax Office’s treatment of the deductibility of self-education expenses against Commonwealth educational payments.



WorkCover Data Matching Project
A data matching project that the Tax Office will be conducting to ensure compliance with the tax law by businesses.



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  July 2009	Activity Statements	June 2009 monthly activity statement - due date for lodging and paying. Quarterly PAYG instalment activity statement, quarter 4, 2008–09 for head companies of consolidated groups - due date for lodging and paying.
28 July 2009	Instalment	Quarterly instalment notice (form R, S or T), quarter 4, 2008–09 due date for paying – you only need to lodge if you are varying the instalment amount. Super guarantee contributions for quarter 4, 2008–09 – employers must make contributions to the fund by this date.
11  Aug 2009	Activity Statements	Quarterly activity statement, quarter 4, 2008–09, due date for lodging and paying if you are lodging via paper or electronic commerce interface.
14 Aug 2009	PAYG Withholding	Due date for lodging the PAYG withholding payment summary annual report for: * large withholders whose annual withholding is greater than $1 million, and/or * payers who have no agent involvement in preparing the report.
21 Aug 2009	Activity Statements	July 2009 monthly activity statement – due date for lodging and paying.
25 Aug 2009	Activity Statements	Quarterly activity statement, quarter 4, 2008-09 – due date for lodging and paying if you are lodging via ELS or the Tax Agent Portal.
28 Aug 2009	Super Guarantee	Due date for lodging the Superannuation guarantee charge statement – quarterly and paying the super guarantee charge for quarter 4, 2008–09, if the employer did not pay enough contributions on time.

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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Victor Harbor SA 5211
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Darwin NT 0800
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Alice Springs NT 0870
T: (08) 8953 4400
F: (08) 8953 4599