Advanced Monthly Tax Update - November 2023

This month’s advanced monthly tax update covers:

• Quick updates, including:

  • New federal and state legislation

  • Updates from state revenue authorities

• Case updates

  • Bowerman - Deductibility of loss made on sale of a property on revenue account

  • Baullo - Consideration paid on property transfer under Duties Act (Victoria)

  • Holm - Extending time period to lodge an objection

  • Home789 - Payroll tax grouping

• Private Binding Rulings

  • Section 45B - Treatment of certain distributions as dividends

  • Non-commercial loss rules

  • Short-term accommodation for the purposes of small business CGT concessions

• Specialist deep dives

  • Director Penalty Notices (DPN)

  • ATO Next 5000 program update

Date recorded: 29 November 2023