Woodside Energy Ltd v Commissioner of Taxation

Posted under taxes by ATO - All New Information on Thursday 30 April 2009 at 1:00 am
This case which concerns whether losses incurred by Woodside Energy Ltd in connection with its hedging transactions were deductible in calculating its taxable profits under the Petroleum Resource Rent Tax Assessment Act 1987

PAYG instalments - are your clients paying too much?

Posted under taxes by ATO - All New Information on Wednesday 29 April 2009 at 1:00 am
In the current economic climate there has been a downward trend in earnings, so the Tax Office is encouraging businesses to review their tax position to see if their pay as you go (PAYG) instalments reflect their current financial position.

Reduction in the minimum annual payment amount for the 2009 financial year

Posted under taxes by ATO - All New Information on Wednesday 29 April 2009 at 1:00 am
Regulations have been released to provide relief for self funded retirees from the minimum payment requirement for account-based pensions.

SuperUpdate April 2009

Posted under taxes by ATO - All New Information on Wednesday 29 April 2009 at 1:00 am
SuperUpdate is a monthly electronic newsletter for those working in the super industry. It includes information about issues and changes in the administration of Australia's super system.

GST and indirect taxes: refunds and amendment time limits

Posted under taxes by ATO - All New Information on Wednesday 29 April 2009 at 1:00 am
On 29 April 2009, the Commissioner issued Miscellaneous Taxation Ruling MT 2009/1 entitled 'Miscellaneous taxes: notification requirements of an entity under section 105-55 of Schedule 1 to the Taxation Administration Act 1953'.

Destroyed documents and reasonable estimates of income

Posted under taxes by ATO - All New Information on Wednesday 29 April 2009 at 1:00 am
This is the standard letter that will be used by tax agents and taxpayers who have had their tax records lost or destroyed as a result of a natural disaster. This is to be used instead of a statutory declaration (NAT 72981).

eLink 15/09

Posted under taxes by ATO - All New Information on Wednesday 29 April 2009 at 1:00 am
Bulletin to inform tax practitioners of the most recent updates to ato.gov.au including the lead article titled 'Temporary tax break for business - keep your clients informed'. Issued 22 April 2009.

Student Financial Supplement Scheme (SFSS) repayment thresholds and rates

Posted under taxes by ATO - All New Information on Tuesday 28 April 2009 at 1:00 am
This document gives you the income thresholds and rates for the compulsory repayment of Financial Supplement debts. Income years range from 1997-98 onwards.

Higher Education Loan Programme (HELP) and HECS repayment thresholds and rates

Posted under taxes by ATO - All New Information on Tuesday 28 April 2009 at 1:00 am
This document lists the repayment thresholds and rates for the compulsory repayment of Higher Education Loan Programme (HELP) and Higher Education Contribution Scheme (HECS) debts. Income years range from 1988-89 onwards.

ATO Tax Practitioner Forum draft minutes - 27 February 2009

Posted under taxes by ATO - All New Information on Monday 27 April 2009 at 1:00 am
Draft minutes of ATPF meeting held 27 February 2009.
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