tax

Director penalty change strengthens SG rules

Company directors need to keep in mind that the Corporations Act holds directors personally liable for many of the legal and financial obligations expected from a company (see the relevant section of the law here). But there are also some tax obligations for PAYG withholding and superannuation guarantee charge payments, which are outlined under the

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Is penalty interest deductible? Yes, and no, and maybe

A new ruling has been released by the ATO on the deductibility or otherwise of penalty interest. Ruling TR 2019/2 replaces an earlier ruling on the same topic that has since been withdrawn (TR 93/7W), and spells out the circumstances when penalty interest is generally deductible and the situations where this is not the case.

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Tax & Super Australia is about to celebrate 100 years

World Taxpayers Conference Last call tickets In the month of May, as the clock ticks over for Tax & Super Australia’s 100 year birthday, we will be teaming up with The Australian Taxpayers’ Alliance for a four day conference, from May 23 to 26 inclusive, to exchange ideas and learn from the best practices of

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Changes to the residency rules, but will they last?

  The 2019 full Federal Court decision in Harding v Commissioner of Taxation may make it easier for expatriates to prove that they are non-residents for tax purposes. By doing so, only their Australian-sourced income has to be declared on their tax return (not their worldwide income). The Full Federal Court ruled that a taxpayer,

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The budget’s boost to instant asset write-off is now law

  Federal Budget night announced an increase in the instant asset threshold, and also an extension of which businesses could access the measure. Now the Treasury Laws Amendment (Increasing and Extending the Instant Asset Write-Off) Bill 2019 has achieved Royal Assent. (And it did so on 6 April, so your affected clients may appreciate the

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