ATO

ATO is scanning for personal services income diverted to SMSFs

  The ATO has announced that it is reviewing arrangements where members of an SMSF (typically at, or approaching, retirement age) purport to divert income earned from their personal services (that is, PSI) to their fund, which results in minimising or even avoiding tax altogether on that income. The ATO says these arrangements typically display

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The shake up that’s coming to Division 7A

  Discussion about reforms to Division 7A has been bouncing back and forth between the tax practitioner community and Treasury/ATO for many years — since the end of 2012 in fact. And while it’s been tempting to conclude that the powers-that-be perhaps don’t really want change, and were stonewalling us all along, a definite crack

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How does your practice compare?

  A benchmarking service for the Australian accounting profession since 2001, the Good Bad Ugly report offers an annual snapshot, or “state of the nation”, for accounting practices. Its 2017 paper offers data on several key performance indicators (the 2018 data has been collected but has not yet been released as a complete report). Good

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Investment guidance, forms, explanations

  Use the links provided to find out more about investing, and find out more about the ATO’s investor’s tax planning tips. Tax planning in general Tax advice website for investors  The ATO’s tax planning website, designed to help investors and tax agents make informed investment decisions. Features a checklist of what to look for

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