Issue Are the computer and printer that are used together in the taxpayer’s business ‘a set of assets’ for the purpose of subparagraph 41-10(4)(b)(i) of the Income Tax Assessment Act 1997 (ITAA 1997)? Decision No. The computer and printer that are used together in the taxpayer’s business are not ‘a set of assets’ for the Read more about Capital Allowances: tax break – asset not part of a set[…]
CANBERRA, June 12 AAP – If you are a truckie, sales and marketing manager or electrician, watch out – the tax office has you in its sights. Australian Tax Office official Jennie Granger says there is concern tough economic times will encourage more people to fudge their tax returns this year. “Deductions for work-related expenses Read more about ATO has truckies, sales reps and electricians in its sights[…]
A federal government review of taxation will not consider any increase in the rate of GST, federal Treasurer Wayne Swan says. The Business Council of Australia, in a submission to the Henry review, has called for a halving of the company tax rate to 15 per cent and an unspecified increase to the GST. No Read more about Swan rules out any increase in GST rate[…]