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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
Haven’t disclosed foreign income in your tax returns?
If you have received income from overseas or have been holding monies overseas and receiving interest income but haven’t disclosed this in your tax returns, do […][...]
Tax Debt
Garnishee arrangement instead of payment plan: Company not wound up
The ATO commenced debt recovery action and would not accept a payment plan. However Waterhouse Lawyers negotiated a Garnishee arrangement so that the company could continue […][...]
Tax Residents
Tax: Don’t get caught by the global Common Reporting Standards (CRS)
The Common Reporting Standard (CRS) is designed to reduce tax evasion. It is a global reporting system and will affect all taxpayers who have bank accounts […][...]
Tax Residents
Tax Common Reporting Standard (CRS): Australian Chinese Community
Many of the Australian Chinese community may be affected by the Common Reporting Standard (CRS) the new international tax reporting system. The CRS is designed to […][...]
Superannuation
Superannuation funds not yours until you retire
One of the biggest mistakes you can make as a trustee/member of a Self-Managed Superannuation Fund (“SMSF”) is to treat the fund’s money like your own […][...]
Tax Advice
SME Business Protection – Tax Tips – Chinese Community
In a recent seminar for members of the Chinese community on SME Business Protection, Tania Waterhouse, taxation and superannuation specialist, gave helpful tax tips. Tania focussed on […][...]
