We are pleased to provide you with the latest edition of the Harding Martin / Bentleys Bulletin, which is now ready for you to access. |
ATO focus on 2007 Tax ReturnsThe Tax Office has advised that it will be paying particular attention to the following in 2006/07: Where self-education expenses are not deductibleIn the case of Lloyd v Federal Commission of Taxation a taxpayer tried to argue that there was a perceived connection between the education expenses she had incurred while doing her PhD in Interactive Digital Media and Telecommunications and the increased income she received from her bank employer as a result of promotions. Changes to the CGT concessions for small business – 2006/07 yearIf a small business taxpayer disposes of a business, including goodwill, and is able to use the small business CGT concessions, it can potentially reduce the capital gain to nil! Delegate or Die!There is not a single management skill more critical to your personal and professional success as an entrepreneur than learning to delegate. But delegating successfully is much more than simply handing out assignments. Employee leaving ? Know your employer obligationsAre you aware of your obligations when an employee leaves? Unpaid Tax or SGC – the ATO could come callingIn this year’s federal budget the ATO received extra funding of $125.7 million over four years to work on reducing debt and collecting superannuation guarantee charge debt owed by employers. |