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Does section 100A truly have an unlimited amendment period?

The recent release of a trio of tax guidance documents by the ATO addressing section 100A, has caused quite the stir amongst advisors and their clients. Of key concern is the apparent retrospectivity in which the Commissioner’s views expressed in these documents could be applied.

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BREPI and an Equipment Leasing Company

Is a company that carried on an active equipment leasing business, with a turnover under $50 million, considered a base rate entity and therefore eligible for the lower corporate tax rate? Determining this mainly revolved around whether its base rate entity passive income was more than 80% of its assessable income for the year. Read on for more details.

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Are there limits on the Commissioner applying section 100A?

Section 100A can apply to trust distributions where a beneficiary is made presently entitled to a share of trust income and that present entitlement arose out of a reimbursement agreement. This draft ruling is intended to address the exclusions – in other words the situations where section 100A does not apply.

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Here we go again… who is responsible for my contractor’s superannuation contributions?

It has become increasingly difficult for employers to be certain of their superannuation guarantee (“SG”) obligations. The number of recent Tribunal and Federal case laws dealing with the status of whether a person is an employee or independent contractor for the purposes of the Superannuation Guarantee and their outcomes underscore the increasing risk of employers being liable for historical unpaid super if the person engaged is found to be a deemed employee under the expanded meaning of that term. Read on to find out what it means for employers and employees.

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