The effect of the CGT cost base provisions (and in particular sec 110-37(2) and 110-45(3) ITAA 1997) is that the expenditure to build a home that can be included in the relevant element of the cost base of the house and land when sold never includes the amount of a grant received under the First Home Owners Grant Scheme (ID 2008/157).
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29 Sep 2010
Amending Bills reintroduced
Several amending Bills, including the Tax Laws Amendment (2010 Measures No 4) Bill 2010, were reintroduced into Federal ..
15 Sep 2010
Freezing orders continued
The Federal Court has continued freezing orders against five foreign corporations which had never filed tax returns in A..
31 Aug 2010
Penalty for recklessness
The Federal Court has allowed the Commissioner's appeal against a decision of the AAT and held that the taxpayer had fai.. |