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…
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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 to decrease the numbers of tax matters being heard at the tribunal and the courts. Negotiations can commence at any time and well before formal…
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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 ATO, and gave an apology to taxpayers who have been adversely affected in such cases. The ATO stated that over the last 18 months they…
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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 a business. ATO computers automatically generate a list of all taxpayers who do not meet the benchmark. There is a strong possibility that these taxpayers…
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Tax Dispute

Involved in a dispute with the Tax Commissioner?
Being audited by the Tax Office?