Tax Update - Sydney - 17 March 2009

Professional Development Group Sydney



Tax Update

Presented by

Bob Duncan, ATMA President



§       Footballers’ High Court appeal granted

§       When is income tax a present legal obligation?

§       Temporary Investment Allowance

§       No review of decision to deny PAYG credits

§       Liquidator not personally liable for GST

§       Claim for depreciation on breakwater allowed

§       Carbon pollution reduction scheme

§       Fundraiser Company – a charitable institution

§       Political party donations non-deductible

§       Interaction between tax consolidation and CGT

§       Effectively non-contingent obligation

§       Fees paid to a managed investment scheme deductible

§       Super guarantee for sports people

§       Legal fees defending misconduct charges deductible

§       Deductibility of certain repairs confirmed

§       Compensation payments assessable on receipt

§       Is book publishing a hobby?

§       Commissioner has power to substitute any value

§       A new spin on foreign service

§       Redundancy payment not exempt foreign income

§       Shortfall penalties Alert

§       Compulsory acquisition constitutes a taxable supply

§       Fuel tax credits for hire arrangements  

§       Damages for defamation not assessable income

§       New Tax Agents Services Bill introduced

§       What is business real property?

§       Another view of the main residence exemption

§       Financial assistance treated as ordinary income

§       Super guarantee contribution late payment offset limited

§       Main residence exemption not available where held in company

§       Are employee share options a beneficial interest in shares?

§       Some thoughts on GST on residential and commercial residential accommodation

§       Optional CGT Loss Roll Over For Complying Super Funds


Name Sales End Price
Member   Ended $44
Non Member Ended $55