Tax; exemption; aged care

The Retirement Villages Regulation 2009 NSW will be automatically repealed on 1 September 2017.

There has been a consultation process underway which has now been finalised and a new Regulation will come into force on and from 1 September 2017. Operators and residents should familiarise themselves with these changes.

The major changes that are proposed

A reminder to check your School Building Funds’ compliance with the ATO requirements.coinjar

School and College Building Funds may attract the attention of the ATO’s compliance program this year.  The ATO develops and implements its compliance program annually, which identifies key areas for its compliance activities for the financial year.  The compliance program targets areas

Australian notesSummary – The High Court handed down its decision in Commissioner of Taxation v Bargwanna on 29 March 2012 ruling that trust funds in a charitable trust must be applied for the purpose of the charitable trust, and not just “substantially” or “on the whole”.

On 29 March, the High Court handed down its decision in the long running case of Commissioner of Taxation v Bargwanna allowing the appeal by the Commissioner of Taxation.

Mr and Mrs Bargwanna were the trustees of the “Kalos Metron Charitable Trust”.  Between 2003 and 2007, the trustees distributed a total of $293,914.55 to numerous charitable cases.


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SUMMARY :  The Tax Office has clarified the GST status of bond retentions

The Commissioner of Taxation has issued a Determination GSTD 2011/4  on the issue of whether GST is payable on accommodation bond retention amounts or accommodation charges paid by residents of an aged care facility covered by the Aged Care Act 1997 that