Webb Martin Consulting - Expert Tax Advice

Interesting to read in yesterday’s Financial Review (AFR,10 March @ pg5) of the ATO’s continued crackdown on employee share and option schemes (ESAS schemes). We drew your attention to the common ESAS tax issues in Issue #4 of The Assessment ‘Something for Nothing? Issues with issuing shares & options to employees’ published on 1 October [...]

Issue #16 If there is one area of GST it is crucial to understand, it is GST and Property. Rules have constantly evolved since introduction, culminating in a raft of changes towards the end of 2008, with some interpretations dramatically changing from the initial views of the ATO. It is essential to get to know [...]

Issue #15 An amusing side effect of the Government’s Nation Building and Stimulus Packages is the flurry of calls to tax agents to get 2008 tax returns lodged ASAP. In addition to the much discussed ‘working Australians‘ payment (which could well be paid to a non-working Australian) there are a number of other initiatives in [...]

Issue #14 GST Margin Scheme Changes Urgent: Potential Window of Opportunity for Property Developers We refer to announcements in the Federal Budget 2008 that changes would be made to the margin scheme where property is acquired via a non-taxable supply (eg. as a supply of a going concern, or farm land, or from associates). See [...]

Issue #13 Urgent: Property Developers & GST Critical ATO change to dealing with GST credits where properties are built for sale, cannot be sold and instead are rented pending sale. The ATO has just released an ATO ID which significantly changes the public position advocated since the inception of GST dealing with how to treat [...]