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Reforms on Income Tests

Published on 21 Jul 2009 | Took place at Education Deveopment Centre, Hindmarsh , SA

This event, part of the Bi-Monthly series, discussed reforms on income tests and was aimed at all tax professionals with clients claiming, or interested in claiming, particular Government means-tested benefits and subsidies.

The event also included a tax update.

An individual’s eligibility for many Government assistance programs is primarily determined by the use of income tests. From 1 July 2009, new legislation will take effect to enhance fairness in the application of the income tests and to better ensure that Government assistance is targeted to those most in need. The new measures also remove inconsistencies in the treatment of non wage remuneration and ensure net losses from investment activities are better accounted for in the income tests, as well as aligning the definition of income for dependency tax offsets with that which applies for family assistance payments.

Individual sessions

Reforms on income tests

Author(s):  Kale RIGANO

This presentation covers:

  • key concepts
  • discussion of amendments to income tests
  • what are Reportable Superannuation Contributions?
  • what are Total Net Investment Losses?
  • case studies demonstrating the practical effect of the amendments.
Materials from this session:

Tax update presentation

Author(s):  Amy JONES

This presentation provides a tax update and covers:

  • legislative changes
  • recent cases
  • ATO Rulings / Determinations / ID's etc
  • GST
  • superannuation
  • State Budget.
Materials from this session: