Articles
Read our Taxation Law Articles to better understand how we can help you with our expertise.
Categories
Featured Article
False GST invoicing: the ATO is on to it
False Invoicing is big and the ATO is onto to it.
A recent media release says the ATO leads a serious financial taskforce with the AFP in combatting a false invoicing scheme involving 1200 businesses.
Businesses are claiming a tax deduction and GST credits for a cheque payment made to the promoter who return cash less a small fee.
According to the ATO a false invoicing arrangement is a scheme where one entity issues another with an invoice, but provides no goods or s
[...]
Superannuation
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 income will be subject to […][…]
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 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 […][…]
