The Government announced extra support to farming families, farm businesses and rural communities affected by drought.

Volatility continues to be the theme in world markets with the intervening period since our last newsletter seeing the market move back up to 12 month highs, only to then fall back in June and July to once again show signs of rising. This is in part due to the mixed signals around the world from a variety of different data that at present indicates economies are growing again, but not at a high enough rate as seen in previous recoveries. Many experts are putting this down to the deleveraging ef

Concessions provide taxation relief to small business by reducing or deferring the taxable capital gain that can arise.

When buying or selling a business, understanding and negotiating the working capital adjustment mechanism is critical.

The ESC will shortly be issuing their regulatory audit scope for 2011.

In substance the Shipping Bills are the same as those introduced in March 2012 and almost identical to the Draft Bills.

These reforms are part of a wider strategy around base erosion and profit shifting, more commonly referred to as BEPS.

Exposure Draft legislation contains proposed amendments to implement the first stage of the transfer pricing reforms.

The article includes a collection of key opportunities for deductions to farmers to increase tax refunds this year.

The grants aim to improve Australia's manufacturing skills and open the door to start-up and non-manufacturing companies.

The reform agenda for the not-for-profit sector begins with the release of a statutory definition of charity.

The Ruling relates to payments to a shareholder or an associate pursuant to an Order made under Section 79 of the FLA 1975.

The Government has released draft legislation which will provide clarify the GST treatment of government appropriations.

The Federal Treasurer issued has a Press Release indicating that the Government proposes to increase the Medicare levy.

The Australian Taxation Office (ATO) announced on 16 March that they will be reviewing living away from home allowance (LAFHA) benefits as it believes some employers may be claiming excessive amounts for exempt accommodation and food components.

The Commissioner of Taxation has announced additional time for tax-related lodgments and associated payments for individuals and businesses affected by the recent natural disasters in Queensland, New South Wales, Victoria and Western Australia.

The tax principles that apply to an investment property also apply to a holiday house, if it is leased or rented out.

These misconceptions about deductions have all been believed to be claimable, but have been rejected by the Tax Office.

On 27 October 2010, the Commissioner of Taxation (the "Commissioner") finalised its draft ruling on the interaction between the transfer pricing provisions and the thin capitalisation provisions. Draft ruling TR 2009/D6 (the "Draft Ruling") was finalised as Taxation Ruling TR 2010/7 (the "Ruling").

The importance of keeping your ASIC details up to date. Increasingly, it seems that more solvent companies are being placed into liquidation by default.