Our March 2018 Tax Newsletter is now out! It contains important taxation developments. This month we discuss:
- Bill to implement housing affordability CGT changes - As part of the 2017–2018 Budget, the Federal Government announced a range of CGT reforms to reduce pressure on housing affordability.
- Changes to small business CGT concessions - Treasury has released draft legislation to make sure that only small business taxpayers can access the small business CGT concessions.
- Bill to change residential property GST arrangements - A Bill has been introduced to require buyers of new residential premises and new residential subdivisions to pay the related GST directly to the ATO.
- Corporate tax avoidance: latest ATO targets - The ATO has provided an update on its latest focus areas and the compliance projects it is undertaking to reduce corporate tax avoidance.
- Social security means testing of lifetime retirement income streams - The Department of Social Services has released its proposed means testing rules for pooled lifetime retirement income streams.
- ATO now issuing excess transfer balance determinations - The ATO is now sending out excess transfer balance determinations to individuals who have exceeded the superannuation transfer balance cap.
For more information on any of these topics, please click on the link below
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