tax

Can Trump pull a Bradbury?

Before last week’s positive COVID-19 test, there was little doubt President Trump was on the comeback trail. Amid signs of an economic recovery, positivity around hopes for a vaccine, and progress on another fiscal stimulus package, all was looking up

More »

Crypto exchange launches tax calculator

KPMG and the cryptocurrency exchange operator Independent Reserve have launched an online tool to help digital currency traders and investors get a better understanding of their tax position. Crypto Tax Estimator was developed by KPMG. Available on Independent Reserve’s platform,

More »

Tax man comes after gig workers

The growth in the sharing economy has been accompanied by increased attention from the ATO, and tax agents are advising their clients that the tax man will be paying much closer attention to Uber drivers, Airbnb landlords and Airtasker workers.

More »

Q&A 13 November 2017

Q: I am about to complete a tax return for my self-managed fund. What guidance can you give on claiming tax deductions? A: Investing through an SMSF can be very tax effective, but that doesn’t mean anything goes. In principle,

More »

Q&A – 12 June 2017

Q: I am thinking of setting up a bank account for my child. What are the tax implications? A: The Australian Taxation Office has issued a tax determination this year (TD 2017/11), setting out its approach to taxing interest on

More »

ATO targets aggressive SMSF tax planning

The Australian Taxation Office has issued a warning to self-managed superannuation fund trustees that it will crack down on trustees using tax planning mechanisms to divert business or personal services income into their funds to reduce tax. Kasey Macfarlane, ATO

More »

Budget turns GST on its head

The Government’s decision to change the way goods and services tax is paid on the purchase of new residential properties, which was announced in the Budget, has left tax agents and property lawyers with plenty of unanswered questions and lots

More »