Tax

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

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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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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Inbound tour operators and collecting, and remitting, GST

  A draft practical compliance guideline (PCG 2018/D7) deals with the requirement for “inbound tour operators” to collect and remit GST. An inbound tour operator is an Australian entity that enters into agreements with non-residents to arrange the supply of Australian tour packages (that can include accommodation and non- accommodation components). Whether GST is required

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