Personal services income: A refresher

  The introduction of the personal services income (PSI) regime in 2000 changed the way income from personal effort earned by contractors, consultants, and individual practitioners such as doctors is dealt with. There are a number of significant tax consequences for clients caught by these rules. Introduction Personal Services Income (PSI) is income that is

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Clarity at last on company tax rates

  After much delay, Treasury Laws Amendment (Enterprise Tax Plan Base Rate Entitles) Bill 2017 was finally passed by the Senate into law on 23 August 2018. This provides certainty for corporate clients as we head into the lodgment and compliance season. The new legislation introduces a new “bright line test” to determine eligibility for

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New GST withholding regime for property buyers

  The payment of goods and services tax (GST) in respect of certain new residential property sales has recently been turned on its head! Commencing 1 July 2018, buyers of new residential premises (other than commercial residential premises or new residential premises created through substantial renovation) or subdivisions of potential residential land (by way of

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