Income August 2018

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Running Time: 15:41

Date: 01/08/2018

  • Division 7A benchmark rate down from 5.3% to 5.2%
  • CGT Improvement threshold $150,386 up from $147,582.TD 2018/8 
  • Value of Goods taken from own stock estimates TD 2018/10
  • Charities and tax-exempt activities “In Australia” TR 2018/D1
  • Work related clothing
  • TD 2018/9 interest on borrowings by discretionary trust beneficiaries for amounts loaned to trusts
  • Common tax mistakes
  • TD 2018/19 new Travel and Meal allowances for 2018-19
  • Cents per Km rate to increase to 68c but not finalised
  • Cryptocurrency gains are CGT gains
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Noel Baharis, Chartered Accountants Australia and New Zealand