We have recently seen a surge in payroll tax audit activity as the state revenue authorities have received data from other sources, including the ATO and ASIC. ...
We have recently seen a surge in payroll tax audit activity as the state revenue authorities have received data from other sources, including the ATO and ASIC.
Eligible small business owners may now be able to get a full or partial transfer duty and vehicle registration duty exemption in Queensland when they restructure their small business.
The recent Victorian decision of Re Owies Family Trust reinforces the importance of ensuring documents for structures such as family trusts (and self-managed superannuation funds) are correct.
The recent Victorian decision of Re Owies Family Trust reinforces the importance of checking variation powers in trust deeds and ensuring they are wide enough.
The recent Victorian decision of Wilstead No.5 Pty Ltd v Smyth reinforces the importance of checking beneficiary structures in family trust deeds to ensure they are wide enough and include everyone to whom we wish to distribute (and have been distributing).
The ATO has issued a formal Legislative Instrument that covers in-house asset issues where a self-managed superannuation fund (SMSF) provides rent relief to a related party.
Employers that have underpaid compulsory superannuation up to 31 March 2018, and who did not take advantage of the amnesty, will now generally be subject to a base penalty of between 100% and 200% of the superannuation guarantee charge (SGC).
The tax treatment of a payment made from a superannuation fund can be quite different if it is received during a member’s life, as opposed to after their death. Many people talk about the distinction as being quite clear. However, the reality is that it is more complicated than that
Several years ago, the ATO published valuation guidelines for self-managed superannuation funds (SMSFs) to assist in their compliance obligations. SMSFs and their auditors are facing a number of challenges in applying these in 2020.
Discretionary trusts that own ‘residential land’ in New South Wales or hold an ownership interest in a company or unit trust that owns residential land in New South Wales must amend their trust deeds before 31 December 2020 to exclude foreign persons as beneficiaries, otherwise foreign land tax and duty
The government has reintroduced its Bill to increase the maximum number of people who can be in a self managed superannuation fund from four up to six. Many are excited about this concept, but is it really a good idea?
As a result of COVID-19, Australians’ tax debts are at a record high. During the height of the pandemic, the ATO also slowed its tax debt recovery activity, so it collected less revenue than usual.
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.