by Nicholas Ho | Feb 28, 2019 | ATO Updates
Managing tax disputes can be like wrestling with a superhero It is sometimes said that a superhero like the DC Comics character Superman can be an uninteresting character because he is, for all practical purposes, indestructible. Critics have said the knowledge that...
by Nicholas Ho | Feb 28, 2019 | ATO Updates, Self Managed Super & Retirement
Arrangements on personal services income diverted to SMSFs The ATO has announced that it is reviewing arrangements where members of an SMSF (typically at, or approaching, retirement age) purport to divert income earned from their personal services to their fund, which...
by Wen Wen | Jan 21, 2019 | ATO Updates
Consumers compensated by financial firms need to consider tax consequences Impact of Financial Services Royal Commission With the ongoing financial services Royal Commission, and likely future cases brought before various courts for compensation — or indeed the...
by Wen Wen | Dec 17, 2018 | ATO Updates
Be aware of the “taxpayer alert” Have you ever read or heard about a “taxpayer alert” being issued by the ATO? Taxpayer alerts are the ATO’s “early warning” signals to the public about a certain area of concern; it could be about fraudulent schemes, or dodgy...
by Wen Wen | Oct 22, 2018 | ATO Updates
What is personal services income? Many professional people who provide services set up a separate entity to run their business, be it a trust, partnership or incorporated company. The purpose, of course, is the lower tax rate that these can secure, rather than at the...
by Wen Wen | Oct 19, 2018 | ATO Updates
Private ruling facts Some people believe you may be able to coerce a better tax outcome by applying for a private ruling from the ATO, but there are some sober facts that you may need to keep in mind if you have thought of doing this yourself. While it is the case...
