From ato.gov.au: Private companies should read this article for insights about the ATO’s current position regarding the Bendel decision.
Private Wealth Client Experience Deputy Commissioner, Louise Clarke, shares her thoughts on some common questions we are hearing from private companies and their advisers, regarding the Commissioner of Taxation v Bendel [2025] FCAFC 15 (Bendel) case decision and court process.… read more
From www.accountantsdaily.com.au: The Coalition has announced new tax incentives for small and family businesses, including a tapered tax offset for new businesses and a $2,000 tax deduction for technology upgrades.… read more
From www.accountantsdaily.com.au: (Podcast) Discussion of tax depreciation related to investment properties.
The conversation covers the role of quantity surveyors in maximizing tax savings, the differences in depreciation for new versus old and residential versus commercial properties, and the impact of renovations on depreciation claims.… read more
From cadenalegal.com.au: The Bendel decision from the Administrative Appeals Tribunal ruled that Unpaid Present Entitlements owed to corporate beneficiaries by trusts are not classified as “loans” under Division 7A of the Income Tax Assessment Act 1936, challenging the Australian Taxation Office’s (ATO) previous interpretation.… read more
From www.claytonutz.com: Large grocery businesses in Australia with revenues exceeding $5 billion must comply with a new mandatory Food and Grocery Code of Conduct that came into effect on April 1, 2025.… read more
From www.bantacs.com.au: Death triggers various tax implications that can significantly impact an estate, even in the absence of a formal death tax.
Key issues include a 17% tax on superannuation paid to non-spouse beneficiaries and the loss of main residence exemption for properties owned while living overseas.… read more
From www.thesenior.com.au: Experts advise that to minimise taxes on superannuation when planning a deceased estate, individuals should consider nominating the executor of their will as the beneficiary, which can bypass the Medicare levy.… read more
From asic.gov.au: ASIC issued two infringement notices totaling $37,560 to Chapter Two Holdings Pty Ltd for misleading statements regarding debt management outcomes on its website, claiming the company falsely stated it had wiped $80 million in debt and saved consumers $30 million in interest.… read more
From moneymag.com.au: Olivia encountered significant challenges in managing her late husband’s affairs, including cancelling flights and accessing financial accounts, highlighting the need for more compassionate processes for grieving families.… read more
From corrs.com.au: The High Court of Australia ruled that a successor trustee does not owe a fiduciary obligation to a former trustee for indemnity preservation, impacting recovery actions for former trustees and trust creditors.… read more
From www.khq.com.au: Selecting an executor or trustee for your estate is akin to voting in an election, both requiring an assessment of trust, competence, and long-term impacts.… read more
From australianfamilylawyers.com.au: Earning capacity plays a crucial role in divorce proceedings, influencing decisions on property settlements, child and spousal support to ensure fair post-divorce living standards.… read more
From www.smsfadviser.com: The Australian Taxation Office estimates that approximately $5.2 billion in superannuation guarantee contributions for FY2021-22 were not paid on time, prompting the government to propose the introduction of the Payday Super regime, which mandates employers to pay SG contributions at the same time as salaries starting from July 1, 2026.… read more
From publicaccountant.com.au: Australia is rapidly transitioning to a cashless economy, with cash payments declining significantly due to factors like the COVID-19 pandemic and the rise of digital transactions.… read more
From www.khq.com.au: The Full Federal Court’s decision in Bendel challenges the ATO’s long-standing position that unpaid present entitlements (UPEs) are classified as loans under Division 7A, indicating that proactive steps must be taken for a loan to exist.… read more