Written
by Stephanie Caredes, CTA, Tax Counsel
It
has been a very busy start to the year for the Tax Policy and Advocacy team
with numerous submissions already on our plate.
has been a very busy start to the year for the Tax Policy and Advocacy team
with numerous submissions already on our plate.
We
are interested to understand members’ views on the reporting requirements that
should apply to the Sharing Economy and what members
think of the ATO’s proposal to replace certain Annual Taxation Determinations with
website content. Please
send your comments through to the Tax Policy
inbox.
are interested to understand members’ views on the reporting requirements that
should apply to the Sharing Economy and what members
think of the ATO’s proposal to replace certain Annual Taxation Determinations with
website content. Please
send your comments through to the Tax Policy
inbox.
Gearing up for the election
Members
will have seen the Prime Minister’s announcement earlier
this week to increase the small business Instant Asset Write-off amount from
$20,000 to $25,000 effective 29 January 2019 and extend the availability of the
write-off to 30 June 2020. This extends both the threshold for 17 months and
the availability of the measure by 12 months from its original end date of 30
June 2019.
will have seen the Prime Minister’s announcement earlier
this week to increase the small business Instant Asset Write-off amount from
$20,000 to $25,000 effective 29 January 2019 and extend the availability of the
write-off to 30 June 2020. This extends both the threshold for 17 months and
the availability of the measure by 12 months from its original end date of 30
June 2019.
 |
| Stephanie Caredes, CTA |
We
seek members’ views on whether you think this measure is useful to your
clients. What has the take-up of the original $20,000 measure been like? Do you
see your clients being able to benefit from the increased threshold? Should the
Instant Asset Write-off become a permanent feature of our tax system?
Though,
we will have to wait until the Parliamentary sitting weeks in
February before we see any law to support this announcement.
I
would also like to remind members about The Tax Institute’s survey on
the tax proposals being put forward by the Labor party. The survey is open until 22 February 2019 and
we really would like to hear members’ views. Thank you to all the members who
have completed the survey so far. We hope you can join us at the
Institute’s 34th National Convention in
March in Hobart to hear the results.
would also like to remind members about The Tax Institute’s survey on
the tax proposals being put forward by the Labor party. The survey is open until 22 February 2019 and
we really would like to hear members’ views. Thank you to all the members who
have completed the survey so far. We hope you can join us at the
Institute’s 34th National Convention in
March in Hobart to hear the results.
Members, we
welcome your thoughts via the TaxVine
Feedback inbox.
welcome your thoughts via the TaxVine
Feedback inbox.
