News

The problem when the evidence doesn’t match what the taxpayer tells the ATO

A recent case before the Administrative Appeals Tribunal (AAT) highlights the importance of ensuring that the evidence supports the tax position you are taking. The ...
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Contractor or employee?

Just because an agreement states that a worker is an independent contractor, this does not mean that they are a contractor for tax and superannuation ...
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Can my SMSF invest in property development?

Australians love property and the lure of a 15% preferential tax rate on income during the accumulation phase, and potentially no tax during retirement, is ...
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Stage 3 personal income tax cuts redesigned

The personal income tax cuts legislated to commence on 1 July 2024 will be realigned and redistributed under a proposal released by the Federal Government. ...
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Engaging a Virtual or Fractional CFO

Not all businesses need (or can afford) a full-time head of finance. But, in addition to accurate and regular financial reporting, they need a strategic ...
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Tax on super balances above $3m hits Parliament

Legislation enabling an extra 15% tax on earnings on super balances above $3m is before Parliament. While not a concern for the average worker, if ...
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The key influences of 2024

The key influences of 2024

Uncertainty has reigned over the last few years, but can we expect more consistency as we head into 2024? We explore some of the key ...
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Bah humbug: The Christmas tax dilemma

Don’t want to pay tax on Christmas? Here are our top tips to avoid giving the Australian Tax Office a bonus this festive season.  1. ...
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The controversial case of the taxpayer who claimed a loss on their home

A decision by the Administrative Appeals Tribunal has the tax world in a flurry after the Tribunal found in favour of a taxpayer who sold ...
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Redrawing investment loans

Warning: Redrawing investment loans

The ATO estimates that incorrect reporting of rental property income and expenses is costing around $1 billion each year in forgone tax revenue. A big ...
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When is food GST-free?

Chobani plain yoghurt is GST-free but Chobani’s ‘flip’ range is taxable? A recent case before the AAT demonstrates how fine the dividing line is between ...
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When trust distributions to a company are left unpaid

What happens when a trust appoints income to a private company beneficiary but does not actually make the payment? The tax treatment of this unpaid ...
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