Articles

Transfer Pricing:  Diverted Profits Tax regime

The Australian Government has demonstrated its commitment to discouraging artificial transfer pricing with the introduction of the Diverted Profits Tax (“DPT”) legislation.  The measures were announced in the 2016 budget and are currently with a parliamentary committee. The DPT regime is targeted specifically at large…
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Don't pay cash on Gumtree, Ebay if you want a tax deduction

If you buy a work related item on Gumtree or Ebay, don’t pay cash because you will have no record of the purchase.  This is shown in a recent Tribunal decision. Background The taxpayer claimed deductions of $24,802 for purchase of tools and tool boxes. …
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Don’t pay cash on Gumtree, Ebay if you want a tax deduction

If you buy a work related item on Gumtree or Ebay, don’t pay cash because you will have no record of the purchase.  This is shown in a recent Tribunal decision. Background The taxpayer claimed deductions of $24,802 for purchase of tools and tool boxes. …
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Australians living overseas must start repaying student loans: HELP, TSL, HECS

If you are an Australian living overseas and you have a student loan then you must register on MyGov by 1 July 2017 and start repaying this loan if you earn over $54,896.  This is regardless of whether you are a resident of non-resident of…
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Super Reform 2016

Treasury have (finally) released details of draft legislation of the first tranche of the 2016 superannuation reform.  Still no word on the controversial contribution cap. The draft bills and regulations will implement the following measures announced in the 2016-17 Budget: the objective of superannuation tax…
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Received an ATO Notice? Keep Calm

So – you have received a Notice from the ATO: You may have forgotten to lodge a number of BASs. You might owe them money. They may be interested in a transaction that you have been party to – for example, the sale of land….
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Received an ATO letter? Keep Calm

The ATO Letter … So – you have received a letter from the ATO. You may have forgotten to lodge a number of BASs. You might owe them money. They may be interested in a transaction that you have been party to – for example,…
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Tax nightmares? Voluntary disclosure is the answer

Having nightmares about your tax? Haven’t lodged income tax returns for don’t know how  many years? Want to get back on track but don’t know how? Afraid to open a letter from the Tax Office? Tax debt just getting bigger and bigger? Then making a…
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