by wladvisory | Mar 24, 2020 | Tax News
The Government yesterday released a second, far reaching $66.1 bn stimulus package that boosts income support payments, introduces targeted changes to the superannuation rules, provides cash flow support of up to $100,000 for small business employers, and relaxes... 
by wladvisory | Mar 6, 2020 | Tax News
The purpose of a trust is to separate the legal and beneficial ownership of assets. The legal ownership of the asset rests with the trustee. The beneficiaries benefit from the income that flows from the assets. A trust is not a legal entity. It is best described as a... 
by wladvisory | Feb 26, 2020 | Monthly Tax Updates
A draft ruling has been issued (TR 2019/D7) that is yet to pass Parliament, which sets out when an employee can deduct transport expenses under section 8-1. This includes the cost of travel by airline, train, taxi, car, bus, boat or other vehicle. It is generally the... 
by wladvisory | Feb 6, 2020 | Monthly Tax Updates
Tax file numbers (TFNs) are so much an everyday element when dealing with tax and the ATO that many practitioners and ordinary self-preparers won’t give it a second thought when tax return software responds with an “invalid” when a TFN is entered. The common thought... 
by wladvisory | Jan 28, 2020 | Monthly Tax Updates
Law Companion Ruling LCR 2019/5 deals with the passive income threshold and other issues within the Treasury Laws Amendment (Enterprise Tax Plan Base Rate Entities) Act 2018 that limits access to the lower corporate tax rate. From the 2017-18...