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
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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 […][…]
Uncategorized
Tax Crime: Failure to Lodge Tax Returns
Did you know that the Australian Taxation Office (ATO) can prosecute you for failure to lodge a tax return and, even worse, if you are convicted, […][…]
Uncategorized
Tax fraud can lead to prison
Tax fraud or evasion is treated very seriously by the courts. There are close to 100 serious criminal tax offence matters currently before the courts for […][…]
Tax Advice
Tax: employee or contractor?
It is critical you correctly classify a worker as either an ‘employee’ or a ‘contractor’. If your worker is in fact an employee there are significant […][…]
Superannuation
SMSF: co-trustee not acting properly? Take action immediately
Superannuation legislation does not deal with the situation of one trustee behaving improperly in relation to their Self Managed Super Fund (SMSF) obligations and the other […][…]
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 […][…]
