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Tax Bites: Inheriting Division 7A problems
All accountants would most likely experience the situation of taking over a new client that has pre-existing Division 7A exposures.... read more
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ATO letters regarding SMSF investment diversification requirements
If you are a trustee of a self-managed superannuation fund (SMSF), you may have recently received correspondence from the Australian... read more
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Tax Bites: Land Tax Trust Nominations for Discretionary Trusts
In 2006, a significant amount of discretionary trusts made beneficiary nominations with the State Revenue Office of Victoria to mitigate... read more
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Further extensions to director penalty notice regime
On 5 July 2019, the Government introduced Treasury Laws Amendment (Combatting Illegal Phoenixing) Bill 2019. Contained within the Bill are... read more
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The Coalition’s $158 billion tax cuts package
The Treasury Laws Amendment (Tax Relief So Working Australians Keep More of Their Money) Bill passed through the Senate with... read more
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Don’t get stranded without insurance from 1 July 2019
On 18 February 2019, the Federal Government passed the ‘Protecting Your Super’ (PYP) package which prevents trustees of APRA-regulated funds... read more
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Tax Update – Understanding the Labor Platform
On 4 April 2019, the Labor Party outlined their budget reply speech. With a pending Federal Election looming and to... read more
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Addendum to 2019/20 Federal Budget Release
On 4 April 2019, Treasury Laws Amendment (Increasing the Instant Asset Write-Off for Small Business Entities) Bill 2019 was modified... read more
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2019/20 Federal Budget Snapshot
The Federal Budget was delivered on 2 April 2019. With a federal election around the corner and with a budget... read more
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Tax Bites Wrap-up 2018
Here's a wrap-up of the Tax Bites articles from 2018: Timing mismatches between expenditure and income items between related parties... read more