GSTR 2006/6 – meaning of ‘no improvements on the land’ – draft changes to the ‘Explanation’ section (relevant for GST-free Government grants and the ‘margin scheme’

Tax Month - June 2018

On Wed 27.6.2018, the Commissioner released a draft of a further Explanation section in his GST Ruling GSTR 2006/6. This ruling considers the meaning of the phrase “improvements on the land” for GST purposes. The draft seeks to provide further details and clarification of the ATO view in order to make it easier for relevant entities…

Professional firms income allocation (income splitting) – no real pre-30 June 2018 replacement guidance from the ATO

Tax Month - June 2018

On 25 June 2018, the Commissioner updated his website page on his suspended ‘guidelines’ for income allocation for professional firms (which is really about how much income principals in professional firms can ‘split’ with family members, without attracting audit attention from the Commissioner). He suspended his previous guidelines on 14 December 2017, citing various alleged…