Your Knowledge
When trust distributions to a company are left unpaid
What happens when a trust appoints income to a private company beneficiary but does not actually make the payment? The tax treatment of...
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Your Knowledge
Nov 13, 20231 min read
Fixed-term employment contracts limited to 2 years
From 6 December 2023, employers can no longer employ an employee on a fixed-term contract that: is for 2 or more years (including...
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Your Knowledge
Nov 13, 20231 min read
30% tax on super earnings on balances above $3 million
Treasury has released draft legislation for consultation to enact the Government’s plan to increase the tax rate on earnings on...
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Your Knowledge
Nov 13, 20233 min read
When is food GST-free?
Chobani plain yoghurt is GST-free but Chobani’s ‘flip’ range is taxable? A recent case before the AAT demonstrates how fine the dividing...
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Your Knowledge
Nov 13, 20232 min read
Warning: Redrawing investment loans
The ATO estimates that incorrect reporting of rental property income and expenses is costing around $1 billion each year in forgone tax...
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Your Knowledge
Oct 11, 20233 min read
$20k deduction for ‘electrifying’ your business
Electricity is the new black. Gas and other fossil fuels are out. A new, limited incentive nudges business towards energy efficiency. We...
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Your Knowledge
Oct 11, 20234 min read
The ‘Airbnb’ Tax
Property investors that choose to utilise their property for short-term stays (or leave it vacant) are firmly in the sights of the...
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Your Knowledge
Oct 11, 20234 min read
Self-education: What can you claim?
The Australian Taxation Office have released a new draft ruling on self-education expenses. We revisit the deductibility of...
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Your Knowledge
Oct 11, 20231 min read
30% tax on super earnings above $3m
Treasury has released draft legislation to enact the Government’s plan to increase the tax rate on earnings on superannuation balances...
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Your Knowledge
Sep 7, 20234 min read
The Billion Dollar TikTok Scandal
$1.7 billion paid out in fraudulent refunds, another $2.7bn in fraudulent claims stopped, around 56,000 alleged perpetrators and over 100...
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Your Knowledge
Sep 7, 20232 min read
The case of the taxpayer who was paid too late
What a difference timing makes. A recent case before the Administrative Appeals Tribunal (AAT) is a reminder about the tax impact of the...
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Your Knowledge
Sep 7, 20235 min read
The shape of Australia’s future
What will the Australian community look like in 40 years? We look at the key takeaways from the Intergenerational Report. The 2023...
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