Taxation On Foreign Income

Taxation On Foreign Income

Resident taxpayers are subject to income tax on income derived in Australia and overseas When Australian residents derive foreign income, the gross amount (including any foreign tax paid on the income) must be included as assessable income. A foreign income tax offset...
Guide For Capital Gains Tax Relief And Your SMSF

Guide For Capital Gains Tax Relief And Your SMSF

What is transitional CGT relief? Transitional CGT relief is temporary relief available to all complying super funds, not just SMSFs, for certain Capital Gains Tax assets that would otherwise give rise to a taxable capital gain through the necessary efforts to comply...
ATO’s GST Refund Discretion Under Review

ATO’s GST Refund Discretion Under Review

Inspector-General to review the ATO’s GST refund discretion As part of its 2017 work program, the office of the Inspector-General of Taxation (IGT) has announced that it is going to examine the ATO’s administration of an existing provision that allows it to hold...