[Webinar running time: 1 hr 25 mins]
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The ATO has issued new guidance about when it will review and audit professional businesses, based on how they distribute profits to their principals and associated entities.
The ATO is looking particularly at businesses operating in the accounting, architectural, engineering, financial services, medical services and legal industries. The ATO’s concern is that businesses in these industries are diverting income away from the individuals providing services, in a way that results in less tax.
In PCG 2021/D2, the ATO sets out two ‘gateway’ tests, and then a scorecard, to determine whether a business’s arrangements are low, medium or high risk.
Using case studies to work through the ATO’s draft PCG, as well as the correct application of the law, after this webinar, you will be able to identify:
Cooper Grace Ward acknowledges and pays respect to the past, present and future Traditional Custodians and Elders of this nation and the continuation of cultural, spiritual and educational practices of Aboriginal and Torres Strait Islander peoples.
Fast, accurate and flexible entities including companies, self-managed superannuation funds and trusts.