Blog

The ATO has reported that the building and construction industry represents a disproportionate amount of its debt book, and has identified worrying trends that affect the industry. Clients in the industry are encouraged to contact their tax agents regarding outstanding…

The ATO has announced that it will be contacting some SMSF trustees in November 2016 to participate in a survey about the use of ‘limited recourse borrowing arrangements’ (‘LRBAs’) to acquire assets for their SMSF. The ATO will email a…

Cabinet recently gave in to immense pressure from the backbench and announced plans to scrap their controversial superannuation lifetime cap, thereby giving Australians more flexibility with their future nest eggs. The cap, originally intended to limit people to $500,000 of…

For many potential business owners, it makes more sense to buy an established business than start their own from the ground up. However, while you stand to inherit the good things about an established company, such as a loyal customer…

In a recent case before the Administrative Appeals Tribunal (AAT), amended assessments issued to a taxpayer by the ATO, which were based on the amounts of unexplained deposits to the taxpayer’s bank accounts (in some years, in the hundreds of thousands of dollars, in others,…

The Treasurer has ordered the sale of a further 16 Australian  residential properties that have been held by foreign nationals in  breach of the foreign investment framework. “The 16 properties were purchased in Victoria, New South Wales,  Queensland and Western Australia, with prices ranging from…