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South Australian Stamp Duty Relief for Commercial Property Transactions

The State Government brought forward the stamp duty concession reductions. For all commercial property contracts signed after 7 December 2015 the stamp duty would be reduced by one third. Further reductions of one third will take effect on the 1 st July 2017 and 1 July 2018. Thereafter there will be no stamp duty on the transfer of eligible commercial property.

 

 

 

GST - The  going concern exemption.

 

Presently if you buy a business or an occupied commercial property, and both the vendor and purchaser agreed and were both registered, there would be no GST payable. This not only has  the cashflow advantage but also there is no (state) stamp duty levied on the GST.

Key Dates - December 2018

Date Category Description
     
01 Dec 2018 Income tax Due date for companies and superannuation funds, that were taxable large/medium entities in the immediate prior year, to pay income tax for the year ended 30 June 2018.
The due date for these entities to lodge 2017/18 income tax returns is 15 Jan 2019.
     
01 Dec 2018 Income tax Due date for taxable head companies of consolidated groups (including new registrants), that have a member deemed to be a large/medium entity in the immediate prior year, to pay income tax for the year ended 30 June 2018.
The due date for these entities to lodge 2017/18 income tax returns is 15 Jan 2019.
     
01 Dec 2018 Income tax Due date for companies and superannuation funds, that were required to lodge income tax returns on 31 Oct 2018, to pay income tax for the year ended 30 June 2018.
     
21 Dec 2018 Activity statements  Due date to lodge and pay monthly activity statements for November 2018. Tax obligations that may be payable include:
  • GST, wine equalisation tax and luxury car tax for November 2018.
  • PAYG withholding for November 2018 (medium withholders).
  • PAYG instalment for November 2018 for monthly PAYG instalment payers (corporate tax entities with instalment income (as defined) above $1 billion).

NOTE:
  • As some dates may vary, please ensure you contact the Australian Taxation Office to double check any dates in question.
  • When the due date for lodgement or payment falls on a Saturday, Sunday, or public holiday, it may be done on the next business day.

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