Where an employee is reimbursed by their employer for the purchase of a laptop computer with additional memory, the cost of the additional memory forms part of the cost of the portable electronic device for the purposes of sec 58X(2)(a) FBTAA (ID 2008/158). The exemption under this provision applies to any computer upgrades made [...]
The distribution of trust property by a non-resident trust to an individual resident beneficiary (for whom the foreign investment fund (FIF) provisions did not apply) did not attract the operation of sec 99B ITAA 1936 to the extent that the amount was properly assessable previously to the beneficiary under sec 97 ITAA 1936 (ID 2008/155). [...]
The Commissioner has issued for comment a document that contains draft effective lives for boats (commercial vessels) and supporting assets. Comments should be made by 22 December 2008.
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 [...]
On 4 December 2008 the Senate Economics Committee released the report of its enquiry into the disclosure regimes for charities and not-for-profit organisations. The Committee made 15 recommendations, including the establishment of a single independent national regulator for not-for-profit organisations which would have similar functions to regulators overseas, and particularly in the UK. This [...]
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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.. |