IPA NEWS
IPA membershiprenewals are now due
If you are yet to forward your IPA membership renewal to us, they are due by the 30th of June2016.
Future of FinancialAdvice Reforms - Are You Ready?
By 1 July 2016,accountants offering financial services to clients will have to complete ASIC’sRG 146 qualification, and be appropriately licensed under ASIC's financial services licensing framework.
There has never beena better time to be a member of the IPA
Over the past twelve months we have been working hard to improve our member services, giving youeven more great reasons to renew your IPA membership.
Update your emailpreferences
Based on the results of our satisfaction survey last year, we have changed theway we send you emails. You can now select which CPE topics and member offers you are interested in.
Have a technicalquery? IPA Professional Assist is the answer.
IPA Professional Assist is an online technical service provided in partnership with Information Exchange and we've just released this series of videos to show you how to useand get the best out of it.
TAXATION
2016/17 TaxChecklists are now available
Tax Checklists for the 2016/17 financial year are now available.
ATO eye on work-relateddeduction claims
The ATO is encouraging people to check which work-related expenses they are entitled to claim and understand what records they need tokeep.
Rental propertyclaims on ATO radar
The ATO is encouraging rental property owners to better understand their obligations and get their claims right.
e-tax retired by ATO
The ATO has advised that it has retired its e-tax lodgment tool for Tax Time2016.
More Tax Time ATOforms and schedules released
The ATO has released additional Tax Time 2016 materials.
Tax governance forprivately owned groups
The ATO has released a resource that outlines the key features of governance it believes a business should have to effectively manage taxrisks.
ATO Tax AvoidanceTaskforce recruitment
The ATO is currently looking for lawyers, accountants and economists to joinits newly created "Tax Avoidance Taskforce".
Labor election taxand revenue announcements
Labor has announced proposals regarding family tax benefits, small businesses and R&D.
Charities at risk oflosing registrations
The Australian Charities and Not-for-profits Commission (ACNC) has published alist of 2,000 registered charities that it says are at risk ofrevocation.
Effective life of depreciation assets
The Income Tax (Effective Life of Depreciating Assets) Amendment Determination2016 (No 1) has been registered.
Value of goods takenfrom stock for private use
The ATO has specified the amounts it will accept for 2015-16 as estimates ofthe value of goods taken from trading stock for private use by certain taxpayers.
Car depreciationlimit 2016-17
The ATO has determined the car limit for the 2016-17 financial year is$57,581.
Jail sentences forserious tax fraud offences
The ATO has advised that two men have been convicted of serious tax offence sfollowing successful investigations under the Serious Financial Crime Taskforce(SFCT).
International"office holder" exempt from tax
The Full Federal Court has by majority dismissed the Commissioner's appeal from the AAT's decision in Re Jayasinghe and FCT [2015] AATA456.
Appeals update
Update of tax appeals relating to the following topics: default assessments;tax agent registration; garnishee notices.
REGULATOR NEWS
ASIC launches firstFoFA best interest duty prosecution
ASIC has commenced proceedings in the Federal Court against a Melbourne-based AFS licensee for alleged breaches of the FoFA best interests duty.
ASA 800 and ASA 805engagements
The Australian Auditing and Assurance Standards Board (AUASB) has released Exposure Drafts relating to ASA 800 and 805 engagements.
