Featured Article
How to reduce your tax penalties and/or GIC
If your tax debt includes a tax penalty and/or general interest charge (GIC) you can apply for a reduction or elimination of the tax penalty and/or GIC.
What types of tax penalties can be reduced?
The ATO issues tax penalties for several reasons, for example when a taxpayer has:
- made a false or misleading statement;
- taken a position that is not reasonably arguable;
- entered into a tax avoidance scheme;
- failed to lodge
Tax Debt
Tax Debt: Garnishee Orders from ATO
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Tax Residency
Section 23AG – Exempt foreign service income
Under section 23AG of the Income Tax Assessment Act 1936 (ITAA), Foreign employment income is exempt from tax if all of the following applies: you are […][…]
Tax Advice
CGT main residence exemption
If you sell your home, you are entitled to a Capital Gains Tax (CGT ) exemption known as the main residence exemption. There are some restrictions […][…]
International Tax
International tax: CFC tax rules explained
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Tax Residency
Aussie crew member of overseas yacht? Australian resident for tax purposes?
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Tax Residency
Are you an Australian working overseas? Your residency status will affect your liability to tax on foreign earned income
A recent case in the AAT concerned an individual working in Oman, who successfully claimed to be a non-resident of Australia, despite being domiciled in Australia […][…]
