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Budget 2020 - A very comprehensive break down.
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Temporary home office expenses shortcut extended again
JobKeeper extension – changes implemented
JobKeeper Participants – are “workers”
Commissioner registers updated JobKeeper alternative tests
Varying Pay As You Go (PAYG) Instalments
Reminder of Medicare Levy Surcharge (MLS)
September update of latest COVID-19 initiatives.
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Expats Return to Australia – Travel Expenses
Profession to be relied on for post-JobKeeper turnover certificates
Update of Superannuation contribution rules from July 1, 2020
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Economic recovery could be slower than anticipated: RBA
High Court rules in favour of employers on personal leave accruals
JobKeeper Phase 2 - Latest Update
Payroll Tax 2020 concessions and JobKeeper
High alert issued over myGov tax time scam
Extended director penalty regime to catch out ‘zombie companies’
SG amnesty deadline - 7 September
‘Hundreds’ to be contacted in ATO early super compliance blitz
90,000 SMEs to benefit from new JobTrainer program
Work Related expenses – 2020
‘Everyone is now on notice’: ATO acquires COVID-19 data on 3m Aussies
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Articles
Player Management Fee Deductions
Can a Charity Operate a Commercial Activity?
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Budget 2008 - 2009
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2007 Tax return Checklist - Companies, Partnerships, Trusts and Other Businesses
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Player Management Fee Deductions

In two test cases the Federal Court was asked whether player management fees were deductions.


The test cases were Riddell (a NRL player) and Spriggs (an AFL player) v FCT.

The decision by single judge is contrary to Australian Taxation Office opinion contained in Taxation Ruling TR2000/5.

The player management fees were for negotiation of a contract of employment, was not incurred too soon because the liability to pay only arose after the players received payments under their employment contracts, and were for advising and representing the player in matters concerning the players sporting talent and therefore not capital, and the players had a viable business framework.

First quarter to the taxpayer.  Unfortunately, the ATO will not change its application of the law until the final siren sounds.

 



26th-June-2008