Equipping professional accountants for sustainability
The International Federation of Accountants has developed a concise resource to guide accounting professionals and...
READ MORENew tax ruling on ‘carrying on a business’ released
Tax practitioners now have greater certainty over determining whether a company carries on a business for the 2015-16 and 2016-17 income years with the release of a new tax ruling.
The ATO has released TR 2019/1, replacing the previous draft TR 2017/D7, setting out the Commissioner’s view on when a company carries on a business for accessing the lower corporate tax rate of 27.5 per cent in the 2015-16 and 2016-17 income years, and for determining the franking percentage to be applied to dividends paid to shareholders.
Read more at the Accountants Daily.
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