We have recently seen a surge of unhappy cases where Australian residents inherit or receive gifts from overseas relatives, and those amounts have been taxed under section 99B of the ...
We have recently seen a surge of unhappy cases where Australian residents inherit or receive gifts from overseas relatives, and those amounts have been taxed under section 99B of the Income Tax Assessment Act 1936.
The Federal Court’s recent decision in JMC Pty Ltd v Commissioner of Taxation [2022] FCA 750, should be sounding the alarm on the risk of potential ATO audit activity for any business engaging contractors as sole traders.
In this episode of TaxLand with Fletch and Sarah, we are honoured to welcome special guest Michael May, barrister from Level 27 Chambers. We delve into the ATO’s PCG 2021/4 compliance approach to profit allocations in professional firms and Michael shares his expert perspective on Part IVA following the Full
In this edition of ‘It depends’, graduate Declan Cawley talks about PSI rules: what they are, whom they apply to and the things you need to consider.
In this episode of TaxLand, Fletch and Sarah talk about the recent decision in Loan Market Group Pty Ltd v Chief Commissioner of State Revenue [2024] NSWSC 390 that dealt with the relevant contract provisions in the context of mortgage brokers. We also look at what consequences that may have
In this episode of TaxLand with Fletch and Sarah, we travel through the rocky terrain of what constitutes an ‘ordinary family or commercial dealing’ and five negatives in section 100A. Are your distributions to adult children at university or retired grandparents going to stand up to scrutiny?
In this episode of TaxLand, Fletch and Sarah talk about the tax consequences of Fletch’s dream to live and work in Italy and the effect that the move could have on his hypothetical assets and interests in oddly successful start-up ventures. Travel to TaxLand with us to learn more.
In this week’s edition of ‘It depends’, partner Fletch Heinemann talks about the ATO’s recent guidance in relation to section 100A reimbursement agreements and how it applies to distributions of income from family trusts.
In this episode of TaxLand, Fletch Heinemann and Sarah Lancaster talk all things tax evasion. From historic cases set on the ports on the eastern coast of Australia in the 1920s to shadowy dealings in glamour suburbs of Sydney to large sums of cash coming through the airport. Travel to
The decision in Thomas and Naaz started alarm bells ringing for medical and allied health practices and their advisers. Some practices are structured so that each practitioner provides medical services to their patients, and the practitioner then receives administration services from a separate service entity.
The ATO has set its sights on distributions of trust income to adult children.
In this episode of TaxLand, Fletch Heinemann and Sarah Lancaster chat about gifts and when they are assessable income. Travel to TaxLand with us in to find out whether Fletch needed to pay tax on a cooler full of fish he received from a client.
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.