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 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 — You Claim It, They Check It
The Tax Office will be data-matching with Centrelink in efforts to identify recipients who may be incorrectly claiming the Federal Government’s education tax refund.



Deduction of Super Contributions — Ensure Paperwork Valid
The Tax Office has reminded self-managed super fund (SMSF) members that if they intend to claim a tax deduction for their personal superannuation contributions, they must complete the correct form.



Direct Debit for GIC-free Payment Deal
The Tax Office has extended the general interest charge (GIC) free payment arrangement for small business taxpayers, but now expects payment by direct debit.



Donations to New Zealand Christchurch Earthquake
The Government has announced that all donations by Australians to the recent earthquake in Christchurch will be tax-deductible.



No Indemnity for Wound-up Corporate Trustee, Says Court
The Federal Court has ruled on a case dealing with a corporate trustee seeking to be indemnified for legal expenses after it had been wound-up.



Debts Result in CGT Small Business Concessions Being Denied
The Administrative Appeals Tribunal has ruled on a case dealing with the small business CGT concessions.



Court Can’t Review Tax Office Decision to Delay GST Refunds Payable
The Federal Court has made a decision dealing with a taxpayer’s request for a review of the Tax Office’s decision to ‘withhold‘ GST refunds that were payable.



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. 

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Darwin NT 0800
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Alice Springs NT 0870
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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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