The Administrative Appeals Tribunal (AAT) has denied a taxpayer a capital gains tax (CGT) discount on a gain on the disposal of shares she acquired as part of an employee share scheme (ESS).
We have previously written (see here and here) about the Tax Laws Amendment (Enterprise Tax Plan Base Rate Entities) Bill 2017 (the Bill) that proposes to deny the lower 27.5% corporate tax rate to corporate tax entities with less than $25 million of turnover that derive predominantly (80% or more) passive income (‘base rate entity passive income’) has not been debated by the Parliament since 12 February 2018.
The Treasury Laws Amendment (Enterprise Tax Plan) Bill 2016 was recently passed by the Senate containing amendments to progressively reduce the corporate tax rate and increase the small business turnover thresholds for access to small business tax concessions.
In the digital age, brands are increasingly making use of innovative marketing and advertising such as native or integrated advertising, social media accounts, bloggers and Instagram influencers. These strategies have been shown to increase audience engagement and brand awareness, and are an effective use of a marketing budget.
On 06 December 2016, the Commissioner of Taxation issued the Discussion Paper TDP 2016/1 on issues concerning electronic distribution platforms (EDPs). The discussion paper seeks feedback in relation to the new Goods and Services Tax (GST) rules for digital suppliers and services affecting EDPs from 1 July 2017.
In light of the 2016-17 Federal Budget handed down earlier this year, followed by consultation with participants in the wine industry, the Turnbull Government has announced on 02 December 2016 reforms to the WET Rebate. The purpose of these reforms, as stated by Assistant Treasurer and Minister for Small Business, Kelly O’Dwyer is to address “distortions in the market through the misuse and exploitation of the WET Rebate scheme”.