Author Archives: RDL Blog Administrator

Main residence CGT bill is resurrected

Legislation to deny capital gains tax (CGT) exemption on the family home for non-residents has been reintroduced into parliament. The original measure, which was announced in the 2017-18 budget and received considerable backlash from members of the tax and expat … Continue reading

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New Rules For Charities Operating Overseas

On July 23rd, conduct standards applying to all charities operating overseas became law. The definition of “operating overseas” is broad, and captures many more charities than the overseas aid organisations that might come immediately to mind. Activities like buying goods … Continue reading

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New helpful resources for Charities

The ACNC has issued a range of factsheets, guides and templates in its ‘Small Charities Library’ for the use of small charities in meeting their compliance obligations. These documents provide guidance on a range of issues applicable for small charities, … Continue reading

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Taxable Payments Annual Reports due soon

Businesses providing cleaning and courier services are reminded that they now fall within the scope of the Taxable Payments Annual Reports (TPAR). Information disclosed in these reports is used by the ATO to identify contractors who may not be doing … Continue reading

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Tax treatment of compensation from financial institutions

By 30 June 2019, five major financial institutions paid $119.7 million in compensation for poor financial advice to 6,318 customers. The question is, how are these payments treated for tax purposes? The tax treatment varies according to why the compensation … Continue reading

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Employers hit with FBT on Uber services

A recent ATO guidance statement has clarified that employers providing travel benefits to employees could be subject to FBT if such services are provided via a ride-sourcing organisation such as Uber, instead of a registered taxi service. Section 58Z of … Continue reading

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ATO ruling on FBT for religious practitioners now finalised

Organisations operating as religious institutions will be interested to note that the ATO ruling on FBT for religious practitioners has now been finalised. It was released on 19th June 2019 as TR 2019/3. The final ruling appears to be largely … Continue reading

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Single Touch Payroll – Will you be ready?

For employers with less than 20 staff, Single Touch Payroll (STP) is just around the corner. While initially intended to begin on 1st July 2019, the ATO has allowed such employers to begin any time before 30th September 2019. A … Continue reading

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Sweeping Changes to Insurance through Superannuation

A recent important legislative change that received Royal Assent and takes effect from 1 July 2019. This change relates to insurance held through superannuation (other than an SMSF or small APRA fund), where the member is deemed to be “inactive”. … Continue reading

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Curtain soon to fall on Medical Expenses claims

The Federal government has been phasing out the Medical Expenses tax offset, which entitles individuals to a tax reduction of either 10% or 20% (depending on the individual’s income level) of the amount paid for medical expenses above a certain … Continue reading

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