Property depreciation tax changes passed

As part of the 9th of May 2017 federal budget, the Australian Government proposed amendments to legislation relating to plant and equipment (division 40) deductions. The proposed changes, outlined in Treasury Laws Amendment (Housing Tax Integrity) Bill 2017 , have now been legislated after being passed by the Senate on the 15th of November 2017….

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Property firm hit for false super claims

The director of Consumer Affairs Victoria has accepted an enforceable undertaking from a property investment company that made false claims related to investing in a superannuation fund. Earlier this month, Consumer Affairs announced that it had accepted an enforceable undertaking from Melbourne-based Accrue Property. Consumer Affairs found that Accrue made several false or misleading statements…

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Government confirms it intends to abolish the Australian Charities and Not-for-profits Commission

Federal Social Services Minister Kevin Andrews has revealed the government’s desire to replace the charity regulator, the Australian Charities and Not-for-profits Commission (ACNC) with a charity evaluator model based on the US-based Charity Navigator. Regulation of charities would return to the Australian Securities and Investments Commission (ASIC) and the Australian Taxation Office (ATO).   Since…

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