From williambuck.com: Medical professionals continue to find trusts beneficial for managing income distribution, asset protection, and tax efficiency, despite recent scrutiny from the ATO regarding unpaid present entitlements.… read more
From www.accountantsdaily.com.au: The Administrative Review Tribunal ruled in favor of the taxpayer, determining he did not engage in tax evasion regarding amended income tax assessments concerning millions of dollars of UK-sourced income.… read more
From www.paintandpanel.com.au: The Motor Trades Association of Australia supports the Australian Government’s consideration of abolishing the $5.2 billion Luxury Car Tax as part of free trade negotiations with the European Union.… read more
From financialnewswire.com.au: Daniel Mulino has been appointed as the Assistant Treasurer and Minister for Financial Services, taking over from Stephen Jones.
With a background as an economic adviser and chair of the House of Representatives Standing Committee on Economics, Mulino brings substantial experience to his new role.… read more
From www.abc.net.au: Anthony Albanese has announced his new frontbench team following Labor’s significant electoral victory, appointing Michelle Rowland as attorney-general after the removal of Mark Dreyfus and Ed Husic.… read more
From thestreet.com: [US context] Missouri House Bill 594 proposes to eliminate the capital gains tax, including profits from digital assets like Bitcoin and XRP, pending Governor Mike Kehoe’s signature.… read more
From sladen.com.au: The Full Federal Court case of Commissioner of Taxation v Liang reaffirms that taxpayers bear the burden of proving that an ATO assessment is excessive.… read more
From www.lowelippmann.com.au: Lowe Lippmann Chartered Accountants provides essential tax management tips for small business owners, including keeping accurate records, setting aside GST, and planning for BAS submissions.… read more
From www.bantacs.com.au: Property investors should be aware of year-end tax strategies, particularly regarding deductions for general expenses and property repairs.
It’s essential to distinguish between repairs, which are deductible if incurred before the financial year ends, and improvements that are not.… read more
From www.themandarin.com.au: Prime Minister Anthony Albanese emphasised the need to restore Australia’s public service before pursuing major national reforms, following his re-election victory.
He highlighted issues such as a struggling immigration system, inadequate Veterans’ Affairs support, and a housing crisis that require immediate attention.… read more
From prosolution.com.au: Investors have three options for personal property ownership: joint ownership, sole ownership, and tenants-in-common (TIC), each offering unique benefits.
Sole ownership can maximize tax savings and minimize land tax liabilities, while joint ownership simplifies estate planning and reduces capital gains tax liabilities.… read more
From johnjeffreystax.com.au: In the case of Merchant v Commissioner of Taxation, the Full Federal Court determined that Mr. Merchant’s actions, which involved crystallising a capital loss to offset a significant capital gain, constituted tax avoidance under Part IVA due to the sale of the BBG shares to a related party.… read more
From www.lawyersweekly.com.au: [podcast] Includes reflections on the implications of the high-profile PepsiCo proceedings in the High Court, challenges facing practitioners in this space, how different the climate may be for tax lawyers post-election, and how such practitioners are clamouring for change.… read more
From www.accountantsdaily.com.au: The 2025 Federal Election highlights key tax and superannuation policies proposed by the ALP and the Coalition.
ALP initiatives include a 20% reduction on student loans and a $1,000 instant tax deduction for work-related expenses, while the Coalition promises a one-off income tax offset of up to $1,200 and allows first home buyers to access superannuation for home deposits.… read more
From www.pwc.com.au: PwC’s Monthly Tax Update for May 2025 provides insights into recent developments in corporate tax, employment tax, international tax, indirect tax, state taxes, and superannuation.… read more