Your practice

Relevant and practical knowledge and tools to build your business

The place for alternative investments in SMSF portfolios

The concept of alternative investments encompasses a mix of assets and strategies that sit on the peripheral of traditional asset classes such as shares, property and cash. An attraction associated with alternative investments is their ability to deliver portfolio diversification — and hence potential risk abatement. The place for alternative investments in SMSF portfolios While

[ Read More ]

Access to your clients’ myGov communications

The ATO is encouraging tax practitioners to consider incorporating as part of their routine a daily check of their clients’ myGov communications. Access to your clients’ myGov communications. The ATO says practitioners can access communications that it has sent via the ATO’s client communication list (CCL) in the tax agent and BAS agent portals. “You

[ Read More ]

Substantiation exception for travel allowance claims: What needs to change

One of the issues that Tax & Super Australia finds frequently raised by members is the tax treatment of work related travel expenses, as well as the reliance on the “reasonable amounts” prescribed by the Commissioner. Substantiation exception for travel allowance claims: What needs to change Last month we put out a “call to arms”

[ Read More ]

Contrived trust income arrangements “not on”, says ATO

The ATO’s “trusts taskforce” has uncovered a class of arrangements that it says appears to be designed to “exploit the proportionate approach to trust taxation”. Therefore a taxpayer alert has been issued by the ATO that warns closely held trust trustees against engineering a reduction in trust income to improperly gain access to favourable tax

[ Read More ]

The tips (and traps) of tax when winding up a business

When your client first went into business, either buying an established enterprise or starting from scratch, probably the last thing on their mind was the day they would close the door for the last time. The tips (and traps) of tax when winding up a business But it’s no use ignoring the inevitable, as one

[ Read More ]