Tax

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

Company directors: Do you REALLY know your responsibilities?

As though business owners and principals don’t already have enough on their minds, the word “recession” is being heard around the barbecue again — just to add to the list of excuses for not sleeping well at night. Company directors especially need to keep in mind that the Corporations Act holds directors personally liable for

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How your work-related car expense logbook should actually look

In a tax world where proof is the taxpayer’s burden, “show me” is a typical response from the Tax Office.  So when it comes to cars, what do you need to show? If you chose to use the logbook method to claim your car expenses, you obviously need a logbook.  This doesn’t have to be

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R&D tax incentive claims are being scutinised

The Tax Office warns that it is working closely with AusIndustry to identify taxpayers involved in aggressive R&D Tax Incentive arrangements. It says some claims made for the R&D incentive have been negligent on the compliance requirements generally expected when making a claim, with some other instances even bordering on tax avoidance and fraud. The

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How transfer pricing actually works – and why it’s abused

Multinational tax avoidance is proving to be a sore point for Australians. You’ve heard about the big players – Facebook, Google, Apple – and there is speculation they might be engaging in dodgy transfer pricing practices. The problem is, while everyone’s steeped in a debate about fiscal-moral-legalism, nobody’s explaining the practical implications of a mispricing

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Tax Office videos explain some work related expense claims

Have you been slow off the mark and still haven’t lodged your income tax return yet (or even better, made an appointment with your tax agent)? It’s already September, so you’d better get cracking as the Tax Office expects all returns to be lodged by October 31 — although this is another reason why it’s

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