Welcome to the Harding Martin BulletinWe are pleased to provide you with the latest edition of the Harding Martin Bulletin.
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Survival In Difficult TimesMany business operators have already taken steps to ensure that their businesses will survive these difficult times. Suggestions on implementing planning for survival in difficult times include:- Review Your Unique Selling Proposition!How can you deliver outstanding service to your customers/clients each time you are dealing with them? GST and Cancellation FeesThe Tax Office has released a Draft GST Ruling in which it states the Commissioner’s preliminary view on the GST consequences when an entity receives a cancellation fee that arises from a customer cancelling an arrangement (e.g. hotel accommodation and appointment for medical services). Medicare Levy SurchargeThe Tax Laws Amendment (Medicare Levy Surcharge Thresholds) 2008 received Royal Assent on 31 October 2008. The Bill, after the Senate’s amendments, increased the Medicare levy surcharge threshold: Deductibility of Legal ExpensesIn a majority decision the High Court found that a former customs officer was entitled to a deduction for legal expenses incurred in defending charges brought against him by his former employer. SMSFs and In-house AssetsThe Tax Office has also released a Draft SMSF Ruling in which it explains the Commissioner’s preliminary view on the core concepts in the definition of ‘in-house asset’. Trustee of SMSF ChargedIn a media release, ASIC said that a trustee of an SMSF has been charged for breaching the sole purpose test as required by the superannuation legislation. |