Authoritative and technically accurate information and guidance on all areas of tax

The tax treatment of intellectual property

In the modern world, more and more of the value of businesses, and the value of the transactions that businesses conduct, are represented by intellectual property. And once value is realised, and therefore revenue created, taxation is never far behind. Understanding the tax law treatment of intellectual property (IP) is essential for businesses so they

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Need help with Division 7A? Watch the ATO’s instructional (CPD) videos

The following videos, which deal with Division 7A matters, have been developed by the ATO in response to feedback from tax professionals received during webinars that it hosted over 2016. Need help with Division 7A? Division 7A may apply when payments or loans are provided by a private company to a shareholder or their associate.

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Backpacker tax will put brakes on affected sectors, says industry researcher

The controversial backpacker tax bill, passed in late 2016, is predicted to reduce the number of working holiday visa holders over the next five years. Backpacker tax will put brakes on affected sectors A recent report from industry-based research house IBISWorld indicates that the tax will negatively affect operators in downstream industries, particularly agricultural industries

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The occasional, and sneaky, GST component of income tax

Generally, the GST component of income or expenditure is ignored for income tax purposes. However, there are exceptions, particularly where there has been a change in planned use. The effect of GST on assessable income are: the GST payable in respect of taxable supplies is excluded from assessable income, and a decreasing adjustment is included

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Xero Roadshow winners and grinners

During February, Tax & Superannuation Australia attended Xero’s national roadshow in Sydney and Melbourne, where we chatted with many of our members and Xero users keen to know more about us. Xero Roadshow winners and grinners Congratulations to Matt Attia of MA Finance in Sydney and Jenny Hamilton of Marjen Accounting Services in Melbourne, lucky

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