February 2016 Client Alert

We are pleased to supply you with the February 2016 edition of Client Alert, which contains information on a number of important taxation developments up to and including 13 January 2016:
• Single Touch Payroll pilot and tax offset proposed – The Government is looking to cut red tape for employers by simplifying tax and superannuation reporting obligations.
• GST simplified accounting methods for small food retailers – Simplified GST accounting methods are available for small food retailers if they meet certain eligibility conditions.
• Government’s Innovation Agenda contains tax incentives – The Government is looking to support innovation and has proposed a suite of new tax and business incentive measures.
• ATO data matching real property transactions – The ATO will be acquiring details of real property transactions from various state revenue offices and tenancy boards.
• Tax treatment of earnout rights on business sale – Tax law changes have been proposed to change the treatment of the sale and purchase of businesses involving certain earnout rights.
• Are your super saving goals on track? – The new calendar year is a good time to conduct a superannuation health check and set some new goals to help boost superannuation savings.

Download the full Client Alert as a PDF here: February Client Alert