Tax Bites

Tax Bites

Tax Bites are regular, short communications containing a snapshot of various common tax issues of interest to professional advisers. Here are some of our previous Tax Bites. Should you wish to subscribe to receive Tax Bites via e-mail, please click on the "Subscribe to Tax Bites" button to the right.

Active asset definition clarified for real property used in a business – Further update

25th September 2020

On 13 January 2020 I wrote a Tax Bite about a Federal Court case that clarified the active asset definition for real property used in a business.  At the time, I wrote that I disagreed wit... read more

Valuation issues following Miley’s case – Discounts and restrictive covenants for the purpose of the Maximum Net Asset Value test

29th January 2020

Miley’s case was originally heard by the AAT, then the Federal Court, then back to the AAT.  It involved the sale by a taxpayer of a 1/3rd interest in a company as part of a package where... read more

Active asset definition clarified for real property used in a business

13th January 2020

Real property can be an active asset where it is used, or held ready for use, in the course of carrying on a business that is carried on by the taxpayer, the taxpayer’s affiliate, or another e... read more

Board of Taxation Report re the Small Business tax concessions

20th December 2019

The Board of Taxation undertook a review of Small Business tax concessions.  It issued a report to the Treasurer in March 2019.  That report has now been released to the public.   ... read more
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About Tax Bites

Tax Bites are general in nature and are not a substitute for specific advice. They are the opinion of Tax Advisory Specialists, and the ATO or the Courts may take a different view. They are not updated for changes in the law or the interpretation of the law since publication.

 

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