Articles
Featured Article
Recent TPB wins: A reminder that supervision of staff is key
The Tax Practitioners Board (TPB) has dramatically increased its investigation of tax agents who are not complying with their tax agent obligations. This is the result of intensive auditing of a tax agent and their business by the ATO who refer non-complying tax agents to the TPB for investigation.
The ultimate sanction by the TPB is for a tax agent’s (and their company tax agent) registration, is to be suspended for a period of up to five years.
Issues
The type of[...]
Tax Advice
Are gambling wins taxable?
Are gambling wins taxable? Typically, winnings from gambling are not taxable. BUT, there is a caution to this. The winnings of a “professional” gambler are taxable. […][...]
Tax Advice
TPB investigating tax agents JobKeeper restructuring
Are you a tax agent providing restructuring advice so that your client can obtain Covid19 JobKeeper? The Tax Practitioners Board (TPB) has provided clear instructions on […][...]
Tax Residents
International offshore business dealings? Undeclared taxable income? Make a voluntary tax disclosure now
Taxpayers who own an overseas company, trade in international shares, receive rents, dividends and interest from overseas interests, receive inheritance funds from overseas and managed overseas […][...]
Tax Audit
Tax review or tax audit – try to satisfy the ATO at the review stage
Individuals, partnerships, companies, trusts, super funds are all at a risk of a tax audit following an unsatisfactory tax review. Tax audits which follow an unsatisfactory tax […][...]
Tax Residents
COVID19 Is your status as a tax non-resident affected if you return home to Australia
Many non-residents for tax purposes have returned to Australia due to Covid19 so that they can be with family and friends. If you are not an […][...]
Tax Dispute
ATO Director Penalty Notice – Unpaid company taxes
Directors – don’t get caught being liable to pay your company’s unpaid taxes because you will be personally liable for a Director Penalty Notice (DPN). This […][...]
