BM & Y

Oct 2008

16-Oct-2008
Foreign Exchange Rates
List of daily, monthly and annual foreign exchange rates. Updated to include monthly and daily rates for September 2008.

Link: //http://ato.gov.au/taxprofessionals/content.asp?doc=/content/22855.htm

Dec 2007

1-Dec-2007
Client Information Bulletin - Summer 2007

Download: November CIB 2007.doc

Oct 2007

31-Oct-2007
Client Information Bulletin - Spring 2007

Download: October CIB - Spring 2007.doc

Feb 2007

28-Feb-2007
Fringe Benefits tax rates and thresholds
Fringe benefits tax (FBT) is paid on certain benefits employers provide to their employees or their employees' associates in place of salary and wages. This fact sheet contains the fringe benefits tax (FBT) rates and thresholds for the 2007 FBT year. These rates and thresholds will also be published in the updated version of Fringe benefits tax: a guide for employers available soon.
Link: http://www.ato.gov.au/taxprofessionals/content.asp?doc=/content/76140.htm&pc=001/003/027/002/007&mnu=&mfp=&st=&cy=1

24-Feb-2007
Entrepreneurs' tax offset - personal service income
Individuals in direct receipt of personal services income, but who do not pass one of the tests or do not hold a determination, may still be eligible to enter the simplified tax system (STS) and claims the entrepreneurs' tax offset (ETO).
Link: http://www.ato.gov.au/taxprofessionals/content.asp?doc=/content/77599.htm&pc=001/003/028/003/001&mnu=23919&mfp=001/005&st=&cy=1

20-Feb-2007
Employees guide to salary sacrificing for superannuation
Salary sacrifice is an arrangement by which an employee agrees to forego part of their future salary wages in return for their employer providing benefits of a similar value.
Link: http://www.ato.gov.au/superprofessionals/content.asp?doc=/content/38172.htm&pc=001/007/122/003&mnu=4544&mfp=001/006&st=tp&cy=1

18-Feb-2007
Does a self managed superannuation fund suit me?
Deciding to set up and run a self managed superannuation fund is an important decision that you should consider very carefully.
Link: http://www.ato.gov.au/superprofessionals/content.asp?doc=/content/58930.htm&pc=001/007/122/011&mnu=4544&mfp=001/006&st=tp&cy=1

15-Feb-2007
Superannuation - frequently asked questions by individuals
Superannuation is a way of saving for your retirement. The superannuation guarantee is the responsibility of employers not employees - you are not obliged to pay or do anything unless you employ someone.
Link: http://www.ato.gov.au/super/content.asp?doc=/content/30467.htm

6-Feb-2007
Is your investment risky?
Legally reducing your tax liability. Some arrangements made to reduce tax liability are not part of ordinary business activities. These arrangements are known as aggressive tax planning. Deductions under these arrangements may not be allowed.
Link: http://www.ato.gov.au/youth/content.asp?doc=/content/66868.htm

Jan 2007

22-Jan-2007
The Super Co-contribution is now even bigger and better
If you earn less than $58,000 a year, and make personal superannuation co-contributions and are otherwise eligible, the Government will now give you a helping hand with the Super Co-contribution.
Link: http://www.ato.gov.au/superprofessionals/content.asp?doc=/content/42616.htm&pc=001/007/122/007&mnu=4544&mfp=001/006&st=tp&cy=1

Dec 2006

15-Dec-2006
A plan to simplify and streamline superannuation
As part of the 2006 Federal Budget, the Treasurer announced major reform to the superannuation system. Afer community consultation, the legislation implementing these changes was introduced into Parliament on 7 December 2006. The majority of changes are due to come into effect from 1 July 2007.
Link: http://www.ato.gov.au/taxprofessionals/content.asp?doc=/content/74461.htm&pc=001/005/054/002/015&mnu=23107&mfp=001/005&st=&cy=1

Nov 2006

11-Nov-2006
Reducing personal income tax - SATO
This measure will amend the Medicare Levy Act 1986 to provide an increase in the income threshold that applies to taxpayers who are eligible for a rebate of tax under section 160AAAA of the Income Tax Assessment Act 1936 - the senior Australians tax offset.
Link: http://www.ato.gov.au/taxprofessionals/content.asp?doc=/content/59446.htm&pc=001/005/054/002/013&mnu=23107&mfp=001/005&st=&cy=1

Oct 2006

1-Oct-2006
Changes to the simplified tax system (STS) for the 2005-2006 year

Recent legislative amendments have affected the way the simplified tax system (STS) works and the amount of tax payable by certain small businesses in the STS.

These changes only apply to income years starting on or after 1 July 2005. For most taxpayers, this means the changes will first apply to their assessment for the 2005-06 income year.

Link: http://www.ato.gov.au/taxprofessionals/content.asp?doc=/content/60967.htm&pc=001/003/028/001/007&mnu=23919&mfp=001/005&st=&cy=1

Jun 2006

9-Jun-2006
Client Information Bulletin

Download: ICCA June CIB 2006.doc

May 2006

11-May-2006
Federal Budget
Please refer to the attached link.
Link: http://www.icaa.org.au/newsletters/newsletter.cfm?newsletterid=A117686103

11-May-2006
The Report

Download: The Report May 06.pdf

Apr 2006

6-Apr-2006
The Report - April 2006

Download: 0406 Report.doc

Mar 2006

3-Mar-2006
The Report - March 2006

Download: 0306 Report.doc

Feb 2006

2-Feb-2006
The Report - February 2006

Download: 0206 Report.doc

Nov 2005

30-Nov-2005
The Report - December 2005

Download: 1205 Report.doc

2-Nov-2005
The Report - November 2005

Download: 1105 Report.doc

Oct 2005

4-Oct-2005
The Report - October 2005

Download: 1005 Report.doc

Sep 2005

14-Sep-2005
Repaying HECS and HELP debts in 2005-06

This guide will help you to understand why HECS debts are changing to HELP debts, and how HECS and HELP debts will be repaid in the 2005-06 income year.

Link: http://www.ato.gov.au/individuals/content.asp?doc=/content/62172.htm

14-Sep-2005
New rulings clarify Tax Office position

The Tax Office today released two rulings on arrangements that use going concern, grouping and margin scheme provisions to reduce or remove GST on the sale of new residential property or land.

Link: http://www.ato.gov.au/corporate/content.asp?doc=/content/63687.htm

12-Sep-2005
Changes to GST property legislation

Broadcast sent by email on 7 September 2005 to inform tax agents of amendments to the GST Act relating to the margin scheme, new residential premises and grouping provisions which became law on 29 June 2005.

Link: http://www.ato.gov.au/taxprofessionals/content.asp?doc=/content/63554.htm

8-Sep-2005
New simplified accounting method fo food retailers

Some supermarkets and convenience stores will soon be able to use a new simplified accounting method to calculate their GST.

Link: http://www.ato.gov.au/corporate/content.asp?doc=/content/63414.htm

1-Sep-2005
Tax Matters

Stories in this edition include quicker refunds, free record keeping software and ways to avoid a tax debt.

Link: http://www.ato.gov.au/corporate/content.asp?doc=/content/62529.htm

1-Sep-2005
The report - September 2005

Download: 0905 Report.doc

1-Sep-2005
Key events for Australian shareholders 2005

A summary of the capital gains tax implications of certain actions by Australian companies in 2004-05.

Link: http://www.ato.gov.au/individuals/content.asp?doc=/content/62416.htm

Aug 2005

2-Aug-2005
The Report - Explanatory Memorandum

Download: 0805 Explanatory Memorandum.doc

2-Aug-2005
The Report

Download: 0805 Report.doc

Jul 2005

25-Jul-2005
New superannuation industry supervision (SIS) measures

The changes made to the SIS regulations which impact on certain accumulation funds and defined benefit funds are shown here. Transitional arrangements for defined benefit funds have been extended to 31 December 2005.

Link: http://www.ato.gov.au/super/content.asp?doc=/content/53881.htm

25-Jul-2005
Telstra: 2004 off-market share buy-back

If you participated in the 2004 Telstra share buy-back and are an individual Australian resident investor, this information will help you to calculate your capital gain or capital loss and complete your tax return correctly.

Link: http://www.ato.gov.au/individuals/content.asp?doc=/content/60376.htm

25-Jul-2005
Key superannuation rates

Key superannuation rates including AWOTE, superannuation guarantee, reasonable benefit limits (including transitional), eligible termination payments (threshholds and tax-free limits), Super co-contribution and surcharge.

Link: http://www.ato.gov.au/super/content.asp?doc=/content/60489.htm

25-Jul-2005
Capital gains tax update 2004-05 income year

Update on CGT developments during 2004-2005 income year. Current as at 30 June 2005.

Link: http://www.ato.gov.au/taxprofessionals/content.asp?doc=/content/47452.htm

25-Jul-2005
TA 2003/3 - Avoidance of Capital Gains Tax Utilising a Trust Structure

This Taxpayer Alert describes an arrangement involving the sale of capital gains tax (CGT) assets. The arrangement seeks to ensure that on the sale of the CGT assets to an arm's length party the taxable capital gains are streamed to a tax preferred entity, such as a charity, whilst the original owners of the assets receive the sale proceeds free of any CGT liability.

Link: http://law.ato.gov.au/atolaw/view.htm?docid=TPA/TA20033/NAT/ATO/00001

25-Jul-2005
Low docs loans

Outlines the results of our investigations into whether people using low documentation loans were likely to have tax compliance issues.

Link: http://www.ato.gov.au/corporate/content.asp?doc=/content/61711.htm

25-Jul-2005
Choice of Super fund - reminder for employers

The Tax Office is reminding employers that they should offer eligible employees a choice of super fund by the end of the week.

Link: http://www.ato.gov.au/corporate/content.asp?doc=/content/61904.htm

25-Jul-2005
Henderson Group PLC (formerly HHG PLC) restructure

In April 2005 HHG plc restructured into Henderson Group plc. Shares and CHESS Depositary Interests (CDIs) were cancelled. The cancellation resulted in a capital loss for most Australian shareholders that can be applied against capital gains.

Link: http://www.ato.gov.au/individuals/content.asp?doc=/content/61322.htm

7-Jul-2005
Teachers 2004-05

If you are employed as a school teacher, this guide will help you to work out what you can claim in your tax return. NAT 2317-6.2005.

Link: http://www.ato.gov.au/individuals/content.asp?doc=/content/57178.htm

7-Jul-2005
Hospitality Employees 2004-05

If you are employed in the hospitality industry as a chef, waiter, waitress or bar attendant, this guide will help you to work out what you can claim in your tax return. NAT 2326-6.2005.

Link: http://www.ato.gov.au/individuals/content.asp?doc=/content/57112.htm

7-Jul-2005
Shares in a company in liquidation or administration

Explains a shareholders rights when they have shares in a company who has been placed into liquidation or administration.

Link: http://www.ato.gov.au/individuals/content.asp?doc=/content/36711.htm

7-Jul-2005
Subdividing land

This fact sheet explains the capital gains tax (CGT) implications of subdividing land.

Link: http://www.ato.gov.au/individuals/content.asp?doc=/content/57408.htm

7-Jul-2005
Is your home exempt from capital gains tax ?

This fact sheet explains the factors used to determine whether your home is exempt from capital gains tax (CGT), that is, eligible for the main residence exemption.

Link: http://www.ato.gov.au/individuals/content.asp?doc=/content/57404.htm

7-Jul-2005
Are you in the business of renovating properties?

Information on property renovating as a business.

Link: http://www.ato.gov.au/individuals/content.asp?doc=/content/57402.htm

7-Jul-2005
Information for primary producers 2004-05

A primary producer is an individual, a trust or a company carrying on a business of primary production. NAT 1712-6.2005.

Link: http://www.ato.gov.au/businesses/content.asp?doc=/content/57294.htm

7-Jul-2005
Deductions for prepaid expenses 2004-05

If you have prepaid a deductible expense for something which is to be done within 13 months, read this guide to find out how much of it you can claim this year. NAT 4170-6.2005.

Link: http://www.ato.gov.au/individuals/content.asp?doc=/content/57243.htm

7-Jul-2005
Capital allowances schedule 2004-05 and instructions

If you have claimed a deduction for decline in value, you may need to complete a capital allowances schedule for 2005. NAT 4089-6.2005.

Link: http://www.ato.gov.au/individuals/content.asp?doc=/content/57228.htm

7-Jul-2005
Guide to depreciating assets 2004-05

If you use a capital asset, such as a car or machinery, in earning your income, you may be able to claim a deduction for the cost of that asset, spread over its effective life. NAT 1996-6.2005.

Link: http://www.ato.gov.au/individuals/content.asp?doc=/content/57256.htm

7-Jul-2005
Airline employees 2004-05

If you work in the airline industry as a flight attendant, flight engineer, pilot or ground engineer, this document will help you to work out what claims you can make in your tax return. NAT 2331-6.2005.

Link: http://www.ato.gov.au/individuals/content.asp?doc=/content/55574.htm

7-Jul-2005
Nurses 2004-2005

If you are employed as a nurse, this guide will help you to work out what you can claim in your tax return. NAT 2319-6.2005.

Link: http://www.ato.gov.au/individuals/content.asp?doc=/content/57144.htm

7-Jul-2005
Real estate employees 2004-05

If you are employed in the real estate industry, this guide will help you to work out what you can claim in your tax return. NAT 2323-6.2005.

Link: http://www.ato.gov.au/individuals/content.asp?doc=/content/57176.htm

7-Jul-2005
Lawyers 2004-05

If you are employed as a lawyer, solicitor, articled clerk and other paralegal, this guide will help you to work out what you can claim in your tax return. NAT 2327-6.2005.

Link: http://www.ato.gov.au/individuals/content.asp?doc=/content/57141.htm

7-Jul-2005
Super choice is here - so is the help

The Tax Office is reminding people that help is available to assist them now that super choice has commenced.

Link: http://www.ato.gov.au/corporate/content.asp?doc=/content/61149.htm

7-Jul-2005
Reportable fringe benefits - facts for employees

This publication provides information to employees about reportable fringe benefits amounts included on their payment summary and the consequences of having this amount shown (Nat 2836).

Link: http://www.ato.gov.au/content/downloads/N2836.PDF

7-Jul-2005
Service Arrangements

This document explains how you can review whether the payments made under your service arrangement are commercially realistic and reasonably connected to your business - NAT 13086-06.2005

Link: http://www.ato.gov.au/businesses/content.asp?doc=/content/60979.htm

7-Jul-2005
Individual Income tax rates

Shows the percentage of tax payable for each income bracket, for individual Australian taxpayers, for the financial years 2004-05 and 2005-06.

Link: http://www.ato.gov.au/individuals/content.asp?doc=/content/12333.htm

5-Jul-2005
The Report - July 2005

Download: 0705 Report.doc

Jun 2005

2-Jun-2005
Budget Report - June 2005

Download: 0605 Budget.doc

2-Jun-2005
Tax Checklist - June 2005

Download: 0605 Tax Return Checklist.doc

2-Jun-2005
The Report - June 2005

Download: 0605 Report.doc

May 2005

12-May-2005
Due Diligence Checklist

Download: 0405 Due Diligence Checklist.doc

12-May-2005
The Report - May 2005

Download: 0505 Report.doc

12-May-2005
The Report - April 2005

Download: 0405 Report.doc

11-May-2005
Federal Budget 2005-2006

Link: http://www.icaa.org.au/news/index.cfm?id=A114691359

Mar 2005

4-Mar-2005
The Report - March 2005
Please see the attached.
Download: 0305 Report.doc

4-Mar-2005
FBT Checklist - March 2005
Please see the attached.
Download: 0305 FBT Checklist.doc

Feb 2005

2-Feb-2005
TFN withholding - bank accounts held in trust for children
Clarifies tax file number (TFN) withholding requirements for interest earned on bank accounts in trust for children.
Link: http://ato.gov.au/distributor.asp?doc=/content/53614.htm

2-Feb-2005
Consumer Price Index (CPI) Rates
Consumer Price Index (CPI) rates updated to include December quarter figure.
Link: http://ato.gov.au/distributor.asp?doc=/content/cpi.htm

2-Feb-2005
Report your GST once a year
This fact sheet explains who is eligible to report goods and services tax (GST) annually and outlines the election, lodgement and payment arrangements.
Link: http://ato.gov.au/distributor.asp?doc=/content/54095.htm

Jan 2005

31-Jan-2005
The Report - February 2005

Download: 0205REP.doc

Dec 2004

7-Dec-2004
The Report - December 2004

Download: 1204REP.doc

7-Dec-2004
Capital gains tax update
Update on CGT developments during 2004-2005 income year.
Link: http://ato.gov.au/distributor.asp?doc=/content/47452.htm

Nov 2004

30-Nov-2004
HECS voluntary repayment changes

People thinking of making voluntary repayments on existing Higher Education Scheme (HECS) debts are encouraged to do so before 31 December 2004.

Any voluntary repayment of $500 or more received on or after 1 January 2005 will receive a bonus of 10%.

These changes are a result of the introduction of the Higher Education Loan Programme (HELP) from 1 January 2005.

Link: http://ato.gov.au/distsributor.asp?doc=/content/mr2004084.htm

8-Nov-2004
The Report - November 2004

Download: 1104 Rep.doc

Oct 2004

8-Oct-2004
The Report - October 2004

Download: 1004Rep.doc

Sep 2004

28-Sep-2004
Claiming the cost of sun protection items
If you have purchased sunscreen lotion, sunhat or sunglasses and used them at work, you may be able to claim a tax deduction.
Link: http://ato.gov.au/distributor.asp?doc=/content/37384.htm

28-Sep-2004
Stapled securities and capital gains tax
Stapled securities are created when two or more different things are contractually bound together so that they cannot be sold separately. If you own stapled securities, you need to be aware of the possible capital gains tax implications.
Link: http://ato.gov.au/distributor.asp?doc=/content/48455.htm

7-Sep-2004
General interest charge (GIC) rates
General interest charge (GIC) rates announced for the current financial year. Revised to include rates for the second quarter of the 2004-2005 income year.
Link: http://ato.gov.au/distributor.asp?doc=/content/gic.htm

7-Sep-2004
Super Update Newsletter September 2004
This issue includes information on the Super Co-Contribution, lodgment and surcharge reporting dates for SMSFs and completing the regulatory return - SMSFs.
Link: http://ato.gov.au/distributor.asp?doc=/content/47697.htm

7-Sep-2004
Varying annual pay as you go (PAYG) instalments

Link: http://ato.gov.au/distributor.asp?doc=/content/48575.htm

7-Sep-2004
Capital Gains Tax Update 2004-05

Link: http://ato.gov.au/distributor.asp?doc=/content/47452.htm

2-Sep-2004
New income tax write-off rates for grapevines based on effective life
Explains the changes announced in the Federal Budget in May 2004 to the way you can claim an income tax write-off of grapevines.
Link: http://ato.gov.au/distributor.asp?doc=/content/48511.htm

2-Sep-2004
The Report - September 2004

Download: 0904Rep.doc

1-Sep-2004
Foreign Exchange Rates

Link: http://ato.gov.au/distributor.asp?doc=/content/22855.htm

Aug 2004

30-Aug-2004
Foreign exchange rates
List of daily, monthly and annual foreign exchange rates. Updated to advise of the Tax Office's administrative treatment following Government's announcement of proposed average rate regulations.
Link: http://http:/ato.gov.au/distributor.asp?doc=/content/22855.htm

12-Aug-2004
Family Trust Elections
Family trust elections (FTEs) and interposed entity elections (IEEs) - lodgement opportunity - Commissioner's announcement 15 April 2004 - questions and answers.Provides questions and answers around PS LA 2004/1 (GA) - a one-off lodgement opportunity for family entities to lodge FTEs and IEEs for earlier years with the 2004 tax return.
Link: http://ato.gov.au/distributor.asp?doc=/content/46339.htm

4-Aug-2004
Commonwealth Bank of Australia Ltd: 2004 off-market share buy-back
The Commonwealth Bank's 2004 off-market share buy-back requires the application of special rules to determine the capital proceeds amount to be used in capital gain and capital loss calculations.
Link: http://ato.gov.au/distributor.asp?doc=/content/47232.htm

4-Aug-2004
Tax Office to issue superannuation surcharge assessments for all years in August 2004
The Tax Office is continuing to analyse assessments that have been rejected by funds. The August 2004 surcharge assessment run will include assessments of superannuation contributions for all years from 1998 to 2003.
Link: http://ato.gov.au/distributor.asp?doc=/content/47307.htm

3-Aug-2004
Super Co-contribution does not need to be claimed
Personal super contributions do not need to be included in an individual's income tax return for the purpose of claiming the Super Co-contribution.
Link: http://ato.gov.au/distributor.asp?doc=/content/47397.htm

3-Aug-2004
GST and the treatment of supplies made through agents
This fact sheet explains the goods and services tax (GST) treatment of supplies of goods and services made through agents.
Link: http://ato.gov.au/distributor.asp?doc=/content/46344.htm

3-Aug-2004
The Report

Download: 0804Rep.doc

3-Aug-2004
Foreign Exchange Rates
List of daily, monthly and annual foreign exchange rates. Updated 30 July to include rates for July 2004.
Link: http://ato.gov.au/distributor.asp?doc=/content/22855.htm

Jul 2004

29-Jul-2004
Self-employed contribution required to gain age based contribution limits
Used to determine the amount of superannuation contributions that are required in order to obtainthe maximum aged based contribution limit.
Link: http://ato.gov.au/distributor.asp?doc=/content/itl02.htm

29-Jul-2004
Age based contribution limits
Limits applicable to employers claiming income tax deductions for superannuation contributions made for their employees and for individuals claiming a deduction for personal superannuation contributions.
Link: http://ato.gov.au/distributor.asp?doc=/content/itl01.htm

22-Jul-2004
DIY Super - It;s your money .... but not yet!
DIY super - It's your money.... but not yet! The rules governing self managed super funds, including advice for trustees, auditors, tax practitioners and financial advisers about how to comply and the consequences of non-compliance.
Link: http://ato.gov.au/distributor.asp?doc=/content/47067.htm

20-Jul-2004
Options for reporting and paying GST - businesses that report GST quarterly
This fact sheet explains the three options for reporting and paying goods and services tax (GST) available to businesses that report GST quarterly and outlines the lodgment and payment dates.
Link: http://ato.gov.au/distributor.asp?doc=/content/13087.htm

9-Jul-2004
Small Business CGT concessions - discretionary trusts - changes to the control test in brief

The previously announced changes to the control test for discretionary trusts have now become law.

Link: http://ato.gov.au/distributor.asp?doc=/content/46585.htm

2-Jul-2004
Lawyers - information on income tax matters 2003-04
If you were employed as a lawyer, solicitor, articled clerk and other paralegal, this guide will help you to work out what you can claim in your tax return.
Link: http://ato.gov.au/distributor.asp?doc=/content/43647.htm

2-Jul-2004
Understanding tax in retirement
When you retire, some of the changes in your life may have an effect on your tax situation. If you are actively planning your retirement or if you have already retired, this publication is for you.
Link: http://ato.gov.au/distributor.asp?doc=/content/35896.htm

2-Jul-2004
Foreign Exchange Rates
List of daily, monthly and annual foreign exchange rates. Updated 30 June to include daily rates for 2003-2004 financial year.
Link: http://ato.gov.au/distributor.asp?doc=/content/22855.htm

2-Jul-2004
AMP group demerger: How it affects Australian resident shareholders
If you were Australian resident shareholder affected by the recent demerger of AMP's UK operations, this guide will help you to identify your capital gains tax obligations.
Link: http://ato.gov.au/distributor.asp?doc=/content/46226.htm

2-Jul-2004
How are capital protected products treated?
If you borrow money to invest in shares or other securities using a capital protected product, this will help you to identify any deductions to which you may be entitled.
Link: http://ato.gov.au/distributor.asp?doc=/content/44517.htm

2-Jul-2004
About capital protected products
If you borrow money to invest in shares or other securities using a capital protected product, this will help you to identify any deductions to which you may be entitled.
Link: http://ato.gov.au/distributor.asp?doc=/content/44515.htm

2-Jul-2004
Capital losses on Pasmnco Ltd shares
If you are an Australian resident investor in Pasminco, and agree to sell your shares but hold them in trust for the buyer, this will help you to calculate any capital gain or capital loss.
Link: http://ato.gov.au/distributor.asp?doc=/content/45789.htm

2-Jul-2004
Exempt Income
Outlines the types of income which are exempt from income tax for Australian individuals.
Link: http://ato.gov.au/distributor.asp?doc=/content/19901.htm

1-Jul-2004
Work-related clothing
This page contains information about eligible work clothing for the 2004-05 income year.
Link: http://ato.gov.au/distributor.asp?doc=/content/42862.htm

1-Jul-2004
Net medical expenses tax offset
If your out-of pocket medical expenses are more than a specified limit, you may be entitled to claim a tax offset.
Link: http://ato.gov.au/distributor.asp?doc=/content/19181.htm

1-Jul-2004
Self managed superannuation funds - Role and responsibilities of trustees
This guide introduces new trustees of self managed superannuation funds to the rules governing the operations of these funds and outlining their responsibilities.
Link: http://ato.gov.au/distributor.asp?doc=/content/46427.htm

1-Jul-2004
Family tax benefit (FTB) tax claim form instructions 2003-04
This information will help you to work out your entitlement to family tax benefit and to complete a claim for lodgment with the Tax Office. It contains the short and long claim forms as well as instructions for both.
Link: http://ato.gov.au/distributor.asp?doc=/content/44000.htm

1-Jul-2004
Work-related Car Expenses
This pages contains information about claiming work-related car expenses as a deduction for the 2004-2005 income year.
Link: http://ato.gov.au/distributor.asp?doc=/content/42855.htm

1-Jul-2004
You and your shares 2003-04
Explains the income you declare, deductions and credits you can claim, and records you need to keep if you hold shares or convertible notes as an investment.
Link: http://ato.gov.au/distributor.asp?doc=/content/42807.htm

1-Jul-2004
Baby bonus instructions and claim 2003-04
If you had a baby after 30 June 2001, you may be entitled to the baby bonus. These instructions will help you to complete your claim.
Link: http://ato.gov.au/distributor.asp?doc=/content/43938.htm

1-Jul-2004
Claiming the cost of managing your tax affairs
Oulines the expenses that can be claimed as a deduction for the cost of managing your tax affairs.
Link: http://ato.gov.au/distributor.asp?doc=/content/19379.htm

1-Jul-2004
Refunding franking credits - individuals
An explanation of when individuals are eligible for a refund of excess franking credits and how to apply for a refund.
Link: http://ato.gov.au/distributor.asp?doc=/content/8651.htm

1-Jul-2004
Income tax rates for individuals
Contains information relating to income tax rates for individuals.
Link: http://ato.gov.au/distributor.asp?doc=/content/33969.htm

1-Jul-2004
Work-related Travel Expenses
This page contains information about claiming work-related travel expenses as deductions for the 2004-05 income year.
Link: http://ato.gov.au/distributor.asp?doc=/content/42872.htm

1-Jul-2004
GST food guide

Rules to work out the goods and services tax (GST) status of the food items you sell.

Link: http://ato.gov.au/distributor.asp?doc=/content/18694.htm

1-Jul-2004
Pensioner tax offset
Explains who is eligible for the pensioner tax offset and how to calculate it.
Link: http://ato.gov.au/distributor.asp?doc=/content/19732.htm

Jun 2004

30-Jun-2004
Family Trust Elections
Family Trust elections (FTEs) and interposed entity elections (IEEs) - Lodgment Opportunity - Commissioner's announcement 15 April 2004 - questions and answers.

Provides questions and answers around PS LA 2004/1 (GA) - a one-off lodgment opportunity for family entities to lodge FTEs and IEEs for earlier years with the 2004 tax return.
Link: http://ato.gov.au/distributor.asp?doc=/content/46339.htm

30-Jun-2004
Baby Bonus

Helping you choose your baby bonus base year

This tool will assist you in determining your best choice for the baby bonus base year. The base year sets the maximum baby bonus amount for every claim year. It also determines when you can start to receive the baby bonus.

Link: http://ato.gov.au/distributor.asp?doc=/content/44384.htm

30-Jun-2004
Who pays the superannuation contribution surcharge
This information will explain who pays the superannuation contribution surcharge.
Link: http://ato.gov.au/distributor.asp?doc=/content/463100.htm

30-Jun-2004
What is the superannuation contributions surcharge?
This information will give you an overview of the superannuation contribution surcharge. It includes an explanation of what the surcharge is, who is liabile to pay the surcharge and how it is calculated.
Link: http://ato.gov.au/distributor.asp?doc=/content/45524.htm

30-Jun-2004
The Report - July 2004

Download: 0704Rep.doc.doc

30-Jun-2004
Tax planning checklist - July 2004

Download: Tax Return Checklist.doc

29-Jun-2004
Clarity for rental property deductions
Owners of residential rental properties will today get increased certainty about the tax deductions they can claim for depreciating assets.
Link: http://ato.gov.au/distributor.asp?doc=/content/mr2004044.htm

28-Jun-2004
Repaying your HECS debt
Detailed information about how your HECS debt is repaid during the 2004-05 income year. It also advises of changes to HECS and the introduction of the Higher Education Loan Programme (HELP) starting on 1 January 2005.
Link: http://ato.gov.au/distributor.asp?doc=content/45174.htm

28-Jun-2004
Tax office begins low doc loan audits
The Tax Office has begun auditing a number of people where income disclosed to lenders of low doc loans is substantially higher than that disclosed in their tax returns.
Link: http://ato.gov.au/distributor.asp?doc=/content/mr2004042.htm

28-Jun-2004
Capital Gains Tax
This page contains some general information about capital gains tax (CGT) for the 2004/05 income year.
Link: http://ato.gov.au/distributor.asp?doc=/content/42750.htm

28-Jun-2004
Research and Development Tax Concession
The Research and Development (R&D) Tax Concession is the principal Government initiative to enhance and increase the amount of R&D being conducted in Australia. It is broad-based, not industry specific, and market-driven with each company controlling the direction and thrust of their R&D.
Link: http://ato.gov.au/distributor.asp?doc=/content/35418.htm

24-Jun-2004
Lodgment Program
Details of the lodgment program for all tax agents for 2004-05, covering income tax returns, activity statements, other lodgment obligations, how to request a deferral of lodgment, and other general lodgment information.
Link: http://ato.gov.au/distributor.asp?doc=content/45418.htm

22-Jun-2004
Keeping Travel Expense Records
You may need to keep records if you are claiming domestic or overseas travel expenses for accommodation, food, drink or incidentals.
Link: http://ato.gov.au/individuals/content.asp?doc+/content/36017.htm

16-Jun-2004
Retail industry assets effective life review
Announcement of the commencement of an effective life review of the assets used in the retail industry
Link: http://www.ato.gov.au/large/content.asp?doc+/content/45541.htm

16-Jun-2004
Office commercial building industry assets effective life review
Announcment of the commencement of an effective life review into the assets used in office commerical buildings.
Link: http://www.ato.gov.au/large/content.asp?doc+/content/45528.htm

16-Jun-2004
Change to Fuel Grants
This document provides a link to information on changes to fuel grants announced by Prime Minister, John Howard on 15 June 2004.
Link: http://www.ato.gov.au/businesses/content.asp?doc=/content/45698.htm

16-Jun-2004
Restaurant, cafe and takeaway food industry assets effective life review - Announcement
Announcement of the commencement of an effective life review into the assets used the restaurants, cafes and takeaway food establishments (including contact details to express interest in participating in the review).
Link: http://www.ato.gov.au/large/content.asp?doc=/content/45322.htm

16-Jun-2004
Family Tax Benefit
This form can be used to make a claim with the Tax Office for family tax benefit. The guide contains the short and long claim forms as well as instructions for both.
Link: http://www.ato.gov.au/individuals/content.asp?doc=/content/44000.htm

3-Jun-2004
The Federal Budget Report

Download: Budget0604.doc

3-Jun-2004
The Report - June 2004

Download: REP0604.doc

2-Jun-2004
Split loan interest deductions
If you have claimed a deduction for interest incurred under a split or linked loan facility, the recent High Court decision in Hart's case means that you may need to request an amendment.
Link: http://ato.gov.au/distributor.asp?doc=/content/45127.htm

May 2004

17-May-2004
The Report - May 2004

Download: REP0504.doc

12-May-2004
Federal Budget

Link: http://www.budget.gov.au/2004-05/index.htm

Apr 2004

16-Apr-2004
Family tax benefit - changes to lodgment dates

Link: http://ato.gov.au/taxprofessionals/content.asp?doc=/content/43648.htm

15-Apr-2004
Main residence exemption - the effect of using your home to produce income
Explains the capital gains tax implications of using part of your home loan for income producing purposes while continuing to live in it.
Link: http://ato.gov.au/distributor.asp?doc=/content/43142.htm

15-Apr-2004
Division 7A - Overview
Payments, loans & debts forgiven by private companies to shareholders & shareholders' associates treated as dividends under Division 7A of Part III of the Income Tax Assessment Act 1936.
Link: http://ato.gov.au/distributor.asp?doc=/content/40223.htm

14-Apr-2004
The Report - April 2004

Download: 0404Rep.doc

Mar 2004

18-Mar-2004
National Telephone Contact Guide

A national telephone contact guide for tax practitioners - updated 15 March 2004.

Link: http://ato.gov.au/distributor.asp?doc=/content/11697.htm

18-Mar-2004
Tax Office introduces new internet service for businesses

Businesses can now lodge their Business Activity Statements (BAS) and view their accounts online at the Tax Office website.

Link: http://ato.gov.au/distributor.asp?doc=/content/mr2004018.htm

18-Mar-2004
Western Australia Contact Guide

Contact details for tax practitioners - updated 15 March 2004.

Link: http://ato.gov.au/distributor.asp?doc=/content/WAContactGuide.htm

11-Mar-2004
How the Australian Government can give your super a helping hand
If you earn less than $40,000 a year, and make personal superannuation contributions, the Government will now give you a helping hand with a super co-contribution.
Link: http://ato.gov.au/distributor.asp?doc=/content/42616.htm

11-Mar-2004
The Report March 2004

Download: 0304Rep.doc

11-Mar-2004
Starting a second job
What you need to know if you have more than one job.
Link: http://ato.gov.au/distributor.asp?doc=/content/23070.htm

10-Mar-2004
General Interest Charge (GIC) rates
General Interest Charge (GIC) rates announced for the current financial year. Revised to include rates for the fourth quarter 2004.
Link: http://ato.gov.au/distributor.asp?doc=/content/gic.htm

10-Mar-2004
Public Ruling Program
Public Ruling Program - charts the progress of unfinalised Rulings and Determinations
Link: http://ato.gov.au/distributor.asp?doc=/content/19658.htm

Feb 2004

3-Feb-2004
The Report - February 2004

Download: 0204Rep.doc

Jan 2004

29-Jan-2004
Superannuation Guarantee Report

Link: http://ato.gov.au/super/content.asp?doc=/content/40990.htm

16-Jan-2004
Conventional Clothing

This page contains information about conventional clothing and when a deduction can and cannot be claimed for the 2003-04 income year.

Link: http://ato.gov.au/distributor.asp?doc=/content/40482.htm

16-Jan-2004
Protective Items

This page contains information about claiming a deduction for work related protective items for the 2003-04 income year.

Link: http://ato.gov.au/distributor.asp?doc=/content/40480.htm

16-Jan-2004
Super guarantee: employer's reporting obligations

Link: http://law.ato.gov.au/pdf/ps04_001.pdf

16-Jan-2004
Protective Clothing

This page contains information about protective clothing and what may, or may not, be claimed as a deduction for the 2003-04 income year.

Link: http://ato.gov.au/distributor.asp?doc=/content/40478.htm

16-Jan-2004
Excise duty rates

To provide information to clients on excise duty, including the current rates.

Link: http://ato.gov.au/distributor.asp?doc=/content/Excise_Duty.htm

Dec 2003

4-Dec-2003
Deductions for Australian defence force members