On 16 December 2019, the ATO reminded tax agents (and taxpayers) that they might have to amend their clients (their own) tax returns if they have claimed ‘small business CGT relief, under an ‘Everett’ assignment of a partnership interest, after amending legislation was past. See below for further details about the reminder. [Tax Month –…
On 10 December 2019, the ATO posted a detailed ‘Consultation Report’ reporting on, variously: consultation matters received and completed; Draft advice and guidance products open for consultation; Stewardship Groups; Special purpose working groups; Stakeholder relationship groups (with a great many links to other pages on the ATO’s website). See below for details of the Report. [Tax Month –…
On 17 Dec 2019, ASIC issued a media release announcing it had disqualified a director for five years for engaging in illegal phoenix activity. See below for details of the Media Release. [Tax Month – December 2019] ASIC disqualified Timothy Elgan Marsh, of Epping, NSW, from managing companies, for the maximum period of…
On Tuesday 17.12.19, the Australian Bureau of Statistics (ABS) released Personal Income in Australia, 2011-12 to 2016-17. See below for a summary of this release. [Tax Month – December 2019]
The Foreign Acquisitions and Takeovers Amendment (Australia-Hong Kong Free Trade Agreement) Regulations 2019 were registered on 16 December 2019, under the Foreign Acquisitions and Takeovers Act 1975. See below for a summary of the Regulations. [Tax Month – December 2019]