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Imposition of GST on 'low-value' foreign supplies

By WSCAdmin | Created on August 3, 2017

Parliament has passed legislation which applies GST to goods costing $1,000 or less supplied from offshore to Australian consumers from 1 July 2018.

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Main residence exemption removed for non-residents

By WSCAdmin | Created on August 3, 2017

The Federal Budget announced that non-residents will no longer be able to access the main residence

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The Tax Commissioner’s hit list

By WSCAdmin | Created on August 3, 2017

Every so often the Australian Taxation Office (ATO) sends a ‘shot across the bow’ warning taxpayers where their gaze is focussed.

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GST applies to services or digital products bought from overseas

By WSCAdmin | Created on August 3, 2017

From 1 July 2017, GST applies to imported services and digital products from overseas, including:

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Super concessions for first home savers and downsizers

By WSCAdmin | Created on August 3, 2017

Does superannuation offer an avenue to help downsizers and first home savers? The Government seems to think so.

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New threshold for capital gains withholding

By WSCAdmin | Created on August 3, 2017

From 1 July 2017, where a foreign resident disposes of Australian real property with a market value of $750,000 or above..

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ATO warning regarding work-related expense claims for 2017

By WSCAdmin | Created on August 3, 2017

The ATO is increasing attention, scrutiny and education on work-related expenses (WREs) this tax time.

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What everyone selling a property valued at $750k or more needs to know

By WSCAdmin | Created on August 3, 2017

Every vendor selling a property needs to prove that they are a resident of Australia for tax purposes unless they are happy for the purchaser to withhold a 12.5% withholding tax

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Car depreciation limit for 2017/18

By WSCAdmin | Created on August 3, 2017

The car limit for the 2017/18 income year is $57,581 (the same as the previous year). This amount limits depreciation deductions and GST input tax credits.

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Change to travel expenses for truck drivers

By WSCAdmin | Created on August 3, 2017

Editor: The ATO has released its latest taxation determination on reasonable travel expenses, and it includes a big change for employee truck drivers.

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