Utilising the Carry-Forward Cap Rule

2020-07-13T07:58:39+00:00

Description 17–18 18–19 19–20 20–21 21–22 22-23 Standard Concessional Annual Cap 25,000 25,000 25,000 25,000 25,000 25,000 Less: Concessional Contributions made in this FY nil (6,000) (5,000) (3,000) (3,000) (45,000) Unused Concessional Cap accrued in this FY $0 19,000 20,000 22,000 22,000 (20,000)               Opening Accrued Unused Cap N/A [...]

Utilising the Carry-Forward Cap Rule2020-07-13T07:58:39+00:00

What Are Concessional Contributions?

2020-07-13T07:57:06+00:00

Concessional Contributions is the term applied to taxable superannuation payments that are contributed into someone’s superfund and which are taxed, at 15%, by that superfund. The use of the term “concessional” indicates that superannuation payments are tax deductible to the payer of those contributions. They cover superannuation payments in the following guises:   The standard [...]

What Are Concessional Contributions?2020-07-13T07:57:06+00:00

Govt can’t regulate Bitcoin as a currency anymore? The Bitcoin Court Case against the ATO

2020-06-24T23:17:38+00:00

We recently ran a Court case against the ATO regarding the tax treatment of bitcoin in the AAT. Sometimes Court cases look like they are about one topic, when they are actually exploring deeper and more significant issues that have far reaching consequences. The Bitcoin case was one of those – and the results are [...]

Govt can’t regulate Bitcoin as a currency anymore? The Bitcoin Court Case against the ATO2020-06-24T23:17:38+00:00

New Tax loop hole created? The Bitcoin Court Case against the ATO

2020-06-24T23:14:29+00:00

We recently ran a Court case against the ATO regarding the tax treatment of bitcoin in the AAT. Sometimes Court cases look like they are about one topic, when they are actually exploring deeper and more significant issues that have far reaching consequences. The Bitcoin case was one of those – and the results are [...]

New Tax loop hole created? The Bitcoin Court Case against the ATO2020-06-24T23:14:29+00:00

Tax tips on Borrowing from your own company

2020-05-31T10:03:46+00:00

Division 7A is part of the Income Tax Assessment Act 1936 (ITAA ’36) that contains laws aimed at stopping small-medium enterprise (SME) company shareholders and their associates from avoiding taxation by accessing and benefiting from company assets and profits in a way that doesn’t result in these being included in their personal income-tax return. Why [...]

Tax tips on Borrowing from your own company2020-05-31T10:03:46+00:00

Do you owe Goods and Services Tax (GST) in Australia for Low Value Import Goods (LVIG)?

2019-07-23T07:02:56+00:00

Do you owe Goods and Services Tax (GST) in Australia for Low Value Import Goods (LVIG)? Do you owe Goods and Services Tax (GST) in Australia for Low Value Import Goods (LVIG)? Do you owe Goods and Services Tax (GST) in Australia for Low Value Import Goods (LVIG)? There are a lot [...]

Do you owe Goods and Services Tax (GST) in Australia for Low Value Import Goods (LVIG)?2019-07-23T07:02:56+00:00

Claiming a tax deduction for expenses for a home-based business

2019-06-12T07:40:23+00:00

  Claiming a tax deduction for expenses for a home-based business If you operate some or all of your business from your home, you may be able to claiming a tax deductions for home-based business expenses in these categories: occupancy expenses (such as mortgage interest or rent, council rates, land taxes, house insurance premiums) running [...]

Claiming a tax deduction for expenses for a home-based business2019-06-12T07:40:23+00:00

Tax office dirty tricks revealed

2018-11-01T08:17:17+00:00

Tax office dirty tricks revealed Tax office dirty tricks revealed Tax office dirty tricks revealed If you are in litigation with the ATO, expect them to use dirty tricks on you. Below is a list of the dirty tricks that I have personally seen used on my clients: Muddying the issue – [...]

Tax office dirty tricks revealed2018-11-01T08:17:17+00:00

The ATO’s booby trap exposed

2018-09-27T07:10:10+00:00

The ATO’s booby trap exposed The ATO’s booby trap exposed The ATO’s booby trap exposed The ATO runs a record keeping hustle which you are already on the wrong side of.  However, if you know about it you can, at least, not be surprised when it happens.  A bit like knowing that you will [...]

The ATO’s booby trap exposed2018-09-27T07:10:10+00:00

The ATO tax litigation process

2018-09-06T09:19:38+00:00

The ATO tax litigation process The ATO tax litigation process The ATO tax litigation process After you’ve been through the hell of an audit and the ups and downs of an objection the last remaining ground of appeal is to the Courts.The ATO tax litigation process-there are two options – the Administrative Appeals [...]

The ATO tax litigation process2018-09-06T09:19:38+00:00