tax

Financial planning

Calls for full CGT on family trusts misguided

A superannuation lawyer has decried calls for family trusts to pay full CGT, arguing all loopholes around this have now closed....

Superannuation

Informed debate key to super reforms: ASFA

Myths surrounding the equity and sustainability of superannuation tax concessions will need to be debunked if there is to be a serious debate about reform, ASFA believes....

Accounting

Tax agents push against online service

Tax agents are resisting the ATO’s push for taxpayers to use its online myTax service this tax season....

Policy & Regulation

Tax laws discriminatory against private companies — Lawyers

The Law Council of Australia has backed Government amendments which would exclude Australian private companies from tax transparency laws as alleviating an injustice....

Tools & guides

Advice impacts of relationship breakdown

Financial planners play a vital role for clients during a relationship breakdown, and they must join hands with legal and tax advisers, Catherine Chivers writes....

Policy & Regulation

ATO reaffirms personal services income strategy

The ATO has reaffirmed its ruling that the anti-avoidance rule for income tax did not apply to a personal services business paying a related employee super in excess of m...

Policy & Regulation

Start-up shares more attractive for employees

Employee share schemes now have a better incentive to qualify staff with a share discount of up to 15 per cent of market value for start-ups....

Superannuation

Hockey expands no super change pledge

Federal Treasurer, Joe Hockey has extended the Government’s pledge not to change the super tax settings beyond the life of the current Parliament....

Superannuation

Pressure mounts to limit super concessions

Australia’s largest industry fund has added its voice to calls to limit super tax concessions to eliminate scope for estate planning....

Policy & Regulation

Tax measure passed through Parliament

To help restore the Budget, provide greater tax certainty, and improve the country’s economic competitiveness a key tax measure has passed through the Parliament....

Superannuation

Can SMSFs and SMAs indefinitely postpone CGT?

Industry fund body, AIST, tells Government strategies are utilising SMSFs, wraps and SMAs to indefinitely postpone the payment of CGT....

Financial planning

Tax complexity driving advice

The Financial Planning Association says tax complexity is driving the need for advice at the same time as creating a cost impediment to accessing advice....

Policy & Regulation

Tax schemes fooling accountants

With tax time coming up the ATO has urged investors to verify tax schemes as even accountants are getting caught out with slick-looking schemes....

Accounting

Tax system inhibits growth: IPA

Without a tax overhaul innovation, growth, and productivity will continue to be stifled in Australia, the Institute of Public Accountants believes....

Accounting

ABN does not mean eligibility for $20k asset write-off

Before making big purchases small business owners need to determine whether they are eligible for the $20,000 asset write-off announced in the Federal Budget, the IPA say...