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2014/15 Luxury car tax (LCT) limit

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…

ATO Keen For Taxpayers To Avoid Tax-related Scams

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…

Repairs To a Rental Property Formerly Used As a Home

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…

Family Court Documents Opened Up To Tax Office

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…

Gov’t To Effectively Get Rid of Super Excess Contributions Tax

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…
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