
Featured Article
Tax Residency: Working Overseas In A Low Tax Country? Get The Right Advice & Avoid Large Tax Debts
Are you working overseas in a low tax jurisdiction and paying little or no tax? If so, you might be liable to pay tax in Australia.
Your tax position all depends on your classification as an ‘Australian Resident’ for tax purposes. To substantiate this, the Income Tax Assessment Act 1936 (subsection 6(1)) and Taxation Ruling TR 98/17 are relevant. Outside of this, there is other tax legislation, rulings and case law which are continually changing the scope of an
[...]
Superannuation
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 […][…]