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2014/15 Luxury car tax (LCT) limit The LCT threshold for the 2014/15 financial year is $61,884 (increasing the previous year’s LCT threshold of $60,316 by an indexation factor of 1.026).   Please Note: Many of the comments in this publication…

The ATO is concerned about the number and frequency of email and mobile phone scams that are occurring. These scams claim to come from the ATO and usually offer a tax refund.  Generally, they link to a bogus ATO website…

Editor:  Last month we reported that the ATO had announced its “Project DO IT” – an amnesty for taxpayers with offshore assets or income to voluntarily come clean by 19 December 2014. Greg Williams, Deputy Commissioner, Serious Non-Compliance, says that: …

In recent years, there has been an increasing tendency for homeowners to use the existing home as a rental property, especially where a new home has been purchased. In these situations, it is common for taxpayers to undertake repairs and…

In a recent and possibly disturbing case for many taxpayers, the ATO has been able to gain access to family court documents in relation to a taxpayer who was already under investigation. Facts A husband and wife were parties to…

In the May Budget, the government stated it will introduce legislation to ensure that inadvertent breaches of the non-concessional contributions cap, that are reversed, will not incur a penalty. For any excess contributions made after 1 July 2013 that breach the non-concessional…