Sweating the small stuff

Care and maintenance suggestions that correct spelling errors, bring provisions in line with drafting conventions, repeal inoperative provisions and update references in the tax law to reflect changes to the names of State and Territory legislation and specifically listed deductible gift recipients.
(@tanya69)

Sweating the small stuff

Extending BAS / payg income instalment deadlines QE March

I was wondering if it has ever been put to the table to extend the deadline of BAS & payg income instalments for QE March activity statements of BAS & payg income instalments. Why do I ask? Because for QE December there is an extension of one month offered due to the Christmas / New Year period and loss of working days. So why can't a pro-rata extension be offered for QE March of at least a week, bringing due date... more »

(@dsmerchanskyi)

Sweating the small stuff

SAPTO transfer to spouse: formula update

A formula in regulation 12(3)(b)(ii) in INCOME TAX ASSESSMENT (1936 ACT) REGULATION 2015 still contains figures $6,000 and 15% which appear to be references to old income tax rates and tax-free threshold. Subregulation 12(4)(a) contains a reference to $6,000. Based on this regulation, presently taxpayers with taxable incomes falling within the $18,200 tax-free threshold may not be able to transfer unused SAPTO to their... more »

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