Transfer of land or business duty
NSW Parliament abolishes stamp duty on the transfer of business assets and unlisted shares in NSW from 1 July 2016.
John Holland Group Pty Ltd v Commissioner of Taxation
The Full Federal Court finds that fly in fly out flight costs are subject to FBT and are ‘not otherwise deductible’. The court held that as they form part of the cost of getting to work and aren’t deductible.
Assessing the risk: allocation of profits within professional firms
ATO releases new risk assessment guidelines for allocation of profits within professional firms for the 2014-15 compliance program and beyond.
Key superannuation rates and thresholds
Key superannuation rates and thresholds for 2015/16 released by the ATO– Concessional contribution cap, capital gains cap and more.
Amendments to revenue asset and trading stock CGT roll-overs
New treatment for CGT roll-overs of revenue assets and trading stock following passage of legislation and new ATO guidelines. Certain entities now eligible to the roll-over may seek the roll-over retrospectively.