4 March 2013
In this week's Tax highlights we feature:
- Monthly Pay As You Go instalments for large taxpayers: The Assistant Treasurer has released a consultation paper concerning changes (to be phased-in in three stages) to the timing of tax instalments for large corporate tax entities, requiring them to make PAYG instalments monthly, rather than quarterly
- Refunding excess GST: The Government has released revised exposure draft legislation to provide for the circumstances in which taxpayers can obtain a refund of overpaid goods and services tax (GST) amounts
- Fringe benefits tax determination: The ATO has released a taxation determination which sets out the amounts the Commissioner considers reasonable for food and drink expenses incurred by employees receiving a living-away-from-home allowance fringe benefit.
Plus we provide our synopsis of the latest legislative developments, cases, announcements, and ATO information and releases.