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Recent TPB wins: A reminder that supervision of staff is key
The Tax Practitioners Board (TPB) has dramatically increased its investigation of tax agents who are not complying with their tax agent obligations. This is the result of intensive auditing of a tax agent and their business by the ATO who refer non-complying tax agents to the TPB for investigation.
The ultimate sanction by the TPB is for a tax agent’s (and their company tax agent) registration, is to be suspended for a period of up to five years.
Issues
The type of[...]
Tax Residents
Tax Issues: Hong Kong residents moving to Australia
In the growing unrest in Hong Kong, you may be considering moving to Australia – you should be aware of the following tax issues: When moving […][...]
Tax Audit
JobKeeper and ATO audit
JobKeeper: ATO audit Receiving a Jobkeeper payment carries the risk of an audit because the Australian Taxation Office (ATO) is heavily monitoring fraudulent Jobkeeper claims: records […][...]
Superannuation
COVID-19 Superannuation early access
Superannuation fund members must generally wait until they reach their retirement age to access their super. There are some exceptions to this rule, but a full […][...]
Tax Crime
COVID-19, tax fraud and the ATO
The Australian Taxation Office (ATO) has announced it is building on its significant efforts zeroing in on fraud and tax schemes designed to take advantage of […][...]
Tax Residents
Discretionary trusts: be wary of distribution to foreign residents
In a recent Federal Court case, Peter Greensill Family Co Pty Ltd v Commissioner of Taxation, the Federal Court found that a distribution from a […][...]
Tax Residents
Tax residency: don’t forget to declare your foreign income if you are an Australian tax resident
Did you know that Australian residents are taxable on their worldwide income? Some income may be protected to some extent from ‘double taxation’ in Australia if […][...]
