Payroll tax crackdown


The number of companies being audited over payroll tax compliance has dramatically increased and most companies audited have been found

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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

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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

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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

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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

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TPB: Tax Practitioners Board: Tax agents beware


Two recent cases at the Administrative Appeals Tribunals have highlighted the need for Tax Agents to comply with their Code

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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

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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

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Gold bullion or scrap gold? Tax implications


Under the GST Act the supply of gold bullion is input taxed.  In layman terms this essentially means that the

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Sharia law and Australian taxes


Muslims complying with Islamic principles, including Sharia law, have a different approach to the lending of money than Australia’s traditional

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Expats: Australian income tax rates


Expats do not pay tax on their foreign income.  But they must still pay tax on any income derived in

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Are superyacht crew liable for tax in Australia?


Aussies crewing overseas on a superyacht may be faced with a big tax bill if they are audited if they cannot show that they are a non-resident of Australia.

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Garnishee Orders


The ATO may issue a garnishee order if you fail to meet your tax debt payment obligations.  However you must

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Section 23AG – Exempt foreign service income


Under section 23AG of the Income Tax Assessment Act 1936 (ITAA) Foreign employment income is exempt from tax if all of the

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CGT main residence exemption


  If you sell your home you are entitled to a CGT exemption known as the main residence exemption.  There

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CFC tax rules explained


If you have interests in offshore companies you should be aware of the taxation rules relating to Controlled Foreign Companies

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Aussie crew member of overseas yacht? Australian resident for tax purposes?


A question that frequently arises is whether an Australian who is living and working on a yacht based in overseas

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Are you an Australian working overseas? Your residency status will affect your liability to tax on foreign earned income


A recent case in the AAT concerned an individual working in Oman, who successfully claimed to be a non-resident of

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Tax Prosecutions: Failure to Lodge Tax Returns


The ATO is increasingly prosecuting taxpayers for failure to lodge their tax returns. The first warning sign is the Tax

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Tax Fraud: can lead to prison


Tax fraud or evasion is treated very seriously by the courts.  There are close to 100 serious criminal tax offence

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SMSFs: Getting ready for audit


SMSF Audit requirements Each year your SMSF must be audited by an approved SMSF auditor before the SMSF Annual Return

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Tax: employee or contractor?


It is critical you correctly classify a worker as either an ‘employee’ or a ‘contractor’.   If your worker is in

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SMSF: co-trustee not acting properly? Take action immediately


Superannuation legislation does not deal with the situation of one trustee behaving improperly in relation to their SMSF obligations and

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Superannuation: SMSF – LRBAs – Non-arm’s length income


One of the benefits of a Self-Managed Superannuation Fund (SMSF) is the  15% tax rate.  However if income is ‘non-arm’s length’, the

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Tax Act valid – constitutional argument fails


The WA District Court recently found in favour of the Commissioner in a case involving the non-remittance of withholding taxes

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SMSF Illegal early access


A recent AAT decision has found that taxpayers who acted on the advice on the agent and entered into a loan arrangement using their SMSF funds had early accessed their benefits and were therefore assessable on those benefits at the time that they were initially released. The arrangement was a sham even though the taxpayers did not have the necessary intent to enter into a sham arrangement. The agent was aware it was a sham and the agent’s intention was the applicable one.

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Taxation problems with the ATO? Good news


Led by Commissioner Chris Jordan the ATO is adopting a more conciliatory approach in negotiating settlements with taxpayers in order

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International tax: Foreign resident


Companies incorporated in overseas tax havens found to be Australian residents because real central management and control was in Australia. Company therefore liable for Australian income tax on profits made on Australia.

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Taxation Disputes – Tax Office Apologises


In welcome news for all taxpayers, the ATO recently acknowledged not all taxation disputes have been handled well by the

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Florists – don’t get caught out by the Tax Office


Did you know that the Tax Office uses what is called a “benchmark” when deciding whether or not to audit

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