Perks Chartered Accountants
Chartered Accountant Alert
 

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


Tax Office Compliance Program 2009/10
The Tax Office has released its compliance program for 2009/10.


New Advice Program for SMSFs
Self-managed superannuation funds can seek non-binding advice on the operation of the superannuation laws under a new program introduced by the Tax Office.


SMSFs and Disposal of Shares
The Tax Office has given its view on whether a complying superannuation fund can claim a revenue loss on the disposal of shares.

Victory for Sham Victim
The AAT has held that a taxpayer, who was a victim of a sham, was entitled to deduct interest and bank charges incurred on loans.

Director Liable to Indemnify Commissioner
The NSW Supreme Court has ordered a director of an insolvent company to indemnify the Commissioner for amounts the company recovered from the Commissioner.



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.

28 
Oct 2009		 Activity Statements

Quarter 1 (July -Sept 2009) activity statements: final date for lodgment and payment.
28 
Oct 2009 

GST Instalments 

Final date for electing to pay GST by instalments (that is, option 3) for June balancers if another reporting option was previously used.
28 
Oct 2009		 GST

Final date for eligible quarterly GST reporters to elect to report GST annually.
 28 
Oct 2009		 GST Instalments

Quarter 1 (July-Sept 2009) instalment notices – forms S and T. Final date for payment and, if varying instalment amount, lodgment.
 28 
Oct 2009		 PAYG Instalments 

Final date for eligible instalment reporters to elect to report annually for June balancers.
 28 Oct 2009 PAYG Instalments 

Final date for notifying your quarterly PAYG instalment reporting and payment choice for the 2010 income year for June balancers.
 28 Oct 2009 PAYG Instalments 

Quarter 1 (July -Sept 2009) instalment notices – forms R and T. Final date for payment and, if varying the instalment amount, lodgment.
 28 Oct 2009 Superannuation 

Superannuation guarantee contributions for quarter 1 2009-10 (1 July - 30 September) to be made to the fund by this date.
 31 Oct 2009 PAYG Withholding 

Final date for lodgment of the PAYG withholding where ABN not quoted – annual report (NAT 3448).

31 Oct 2009  PAYG Withholding 

Final date for lodgment of your PAYG withholding from interest dividend and royalty payments paid to non residents – annual report (NAT 7187)
31 Oct 2009  PAYG Withholding 

Final date for lodgment of your PAYG withholding annual report – payments to foreign residents (NAT 12413)
 31 Oct 2009 GST  Annual GST return (option 3) or Annual GST information report (option 2) lodgment and payment (if required) is due when the income tax return is due.
31 Oct 2009  Income Tax 

Final date for lodgment of individual, partnership and trust income tax returns, unless an approved SAP has been granted.
31 Oct 2009  Income Tax  Income tax return lodgment due date for all June balancing company and superannuation funds where one or more prior-year returns were outstanding, as at 30 June 2009.

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

Victor Harbor
163 Hindmarsh Road
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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