Taxpayer Alerts

Thumbnail image for Tax Office warns about tax treatment of retail premiums
By May 20, 2009

The Tax Office today issued a taxpayer alert designed to help shareholders make informed decisions whether to take up entitlements to a share offer based on the tax treatment of retail premium payments. Tax Commissioner Michael D’Ascenzo said he is concerned some companies issuing share entitlements may be providing incorrect ...

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Thumbnail image for Tax Office examines SMSF use of negotiable instruments
By May 19, 2009

Media release 2009/33 The Tax Office today issued a taxpayer alert warning trustees of self-managed super funds (SMSF) to be cautious of arrangements involving the non-commercial use of negotiable instruments, such as promissory notes, in an attempt to gain income tax and super benefits. The arrangements involve a trustee or ...

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By February 18, 2009

Tax Commissioner Michael D’Ascenzo today issued two taxpayer alerts warning the community that the Tax Office is closely examining uncommercial property arrangements that try to obtain unintended GST benefits. The alerts cover arrangements where a land owner and its associate delay invoicing and payment for construction services in an attempt ...

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By November 18, 2008

Tax Commissioner Michael D’Ascenzo today issued two taxpayer alerts warning foreign residents selling indirect holdings in Australian real property about arrangements that attempt to avoid Australian capital gains tax. The alerts cover arrangements that attempt to circumvent indirect holding rules through staggered sell down arrangements and manipulation of the value ...

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By June 25, 2008

The Tax Office today issued four taxpayer alerts warning people of its concerns about abusive tax schemes. These alerts cover employee savings plans, salary deferral arrangements, a profit washing scheme and a liquidation scheme. Tax Commissioner Michael D’Ascenzo said people involved in or considering these schemes should be warned they ...

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By June 13, 2008

The Tax Office today issued a taxpayer alert warning trustees and members to be cautious when moving assets other than cash into superannuation funds. When assets other than cash are transferred to a superannuation fund trustees must make sure the fund accurately reports the market value of the assets and ...

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By January 14, 2008

ATO Media Release 2008/2 Acting Tax Commissioner Bruce Quigley today warned people to be cautious about claiming deductions for losses incurred under certain stapled security arrangements. In these arrangements the company issuing the securities suggests that the investor may claim deductions for losses in certain circumstances. These circumstances include the ...

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