November 2018 Tax Newsletter

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Here is the latest release of our Tax Newsletter for 2018. It includes important taxation developments including:

Super transfer balance cap - ATO Assistant Commissioner Superannuation Tara McLachlan has given a speech on “Administration issues under the transfer balance cap”.
Australian Small Business White Paper - The Institute of Public Accountants (IPA) and the IPA Deakin SME Research Centre have recommended a range of tax reforms.
Tax time 2018 - The ATO expects that 200,000 people could miss out on a tax refund this year because they haven’t lodged a tax return.
Bringing forward business tax cuts and small business offset - The Government and Labor have agreed to bring forward planned small business tax cuts; reductions in the corporate tax rate and small business offset have also been accelerated.
Residential rental property travel expenses - Non-business travel costs connected to residential rental properties are not deductible; the ATO has released new guidance.
Taxing compensation received for inappropriate advice - The ATO has published information about how tax applies for people who receive compensation from financial institutions.
Excess super contribution determinations - The ATO has started issuing excess concessional contributions determinations for 2017–2018.

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