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Non-commercial business losses quarantined for high income earners. |
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From 01 July 2009, the Government will tighten the application of the rules on the use of non-commercial losses to prevent high-income individuals from offsetting excess deductions from non-commercial business activities against salary and other income. |
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Beware of Sham Mortgage Arrangements |
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Warning... The Tax Office today issued a taxpayer alert warning people about sham arrangements promoted as ‘mortgage management plans’ which promise to help home owners repay their home loan sooner and claim tax deductions to which they are not entitled. |
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