Superannuation: 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.[…]

Tax Debt

Taxation problems with the ATO? Good news

Led by Commissioner Chris Jordan the Australian Taxation Office (ATO) is adopting a more conciliatory approach in negotiating settlements with taxpayers who have tax debt in […][…]

Tax Audit

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

Did you know that the Australian Taxation Office (ATO) uses what is called a “benchmark” when deciding whether or not to audit a business. ATO computers […][…]



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