Corrs tax newsletter: September edition

In this edition we discuss:

  • Government’s proposed changes to the tax treatment of related party bad debts
    We consider the government’s proposed reforms to the treatment of related party bad debt deductions as outlined in its recent discussion paper.
  • The Director Penalty Regime: increasing director obligations
    We examine amendments to the directors penalty regime imposed for nonpayment of tax liabilities and super guarantee charge that commenced on 29 July 2012.
  • Australian Taxation Office Compliance Program 2012-13
    We outline the key areas of focus for the ATO’s 2012-13 compliance program, including the number of proposed audits and reviews for each key focus area.

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The content of this publication is for reference purposes only. It is current at the date of publication. This content does not constitute legal advice and should not be relied upon as such. Legal advice about your specific circumstances should always be obtained before taking any action based on this publication.

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Simon Mifsud

Senior Associate. Sydney
+61 2 9210 6197