Tax news, views & clues – November 2017

  • Compensation for ATO systems outages – The ATO has advised about how it will assess claims for compensation following its recent systems outages.
  • Small business restructure rollover – The ATO is proposing to modify how the small business restructure rollover operates.
  • Tax cut closed off for passive investment companies – The Government has released exposure draft legislation to deny access to the lower corporate tax rate of 27.5% for companies with predominantly passive income.
  • Identification numbers for directors – The Government has announced a package of reforms to combat phoenix activities, including the introduction of a Director Identification Number.
  • Legislation for First Home Super Saver scheme and downsizer super contributions – A new Bill to enact these measures has been introduced into Parliament.
  • No GST on digital currency – The GST Act is being amended to ensure that supplies of digital currency receive equivalent GST treatment to supplies of money.
  • New financial and superannuation complaints authority – The Australian Financial Complaints Authority will resolve disputes about products and services provided by financial firm.
  • Superannuation guarantee – The Government has announced a crackdown on employer non-compliance and new legislation will prevent employers using an employee’s salary sacrifice contributions to reduce the employer’s minimum contributions.
DFK Benjamin King Money, trusted advisers for nearly sixty years and counting.”

At DFK Benjamin King Money we are committed to providing premium business and financial advice. We have a highly-skilled and enthusiastic team dedicated to meeting this commitment. The financial well-being of our clients is paramount.


Level 3, 689 Burke Road
PO Box 1163
Camberwell, Victoria 3124
Telephone: 03 9804 0411
Facsimile: 03 9804 0422