News

The ATO has recently warned taxpayers to be alert to malicious scammers who are using increasingly sophisticated methods and technology to impersonate the ATO. A new tactic on the rise involves “spoofing”, whereby scammers mimic a legitimate ATO phone number visible on caller ID to...

Individuals with a total superannuation balance (TSB) below $500,000 are now able to “carry forward” their unused concessional contributions (CC) cap space to future years in order to catch up on contributions later when they have the capacity to do so. Usually, an individual’s CCs are...

The best time to finalise a co-ownership agreement which relates to disputes, sale of the business, major capital expenditure, policy on the treatment of profits, decision-making, restraint of trade and many other issues is when the business is being formed, not months or years later...

The Crowd Sourced Funding Equity Raising Scorecard indicates that $18.3 million has already been raised by 22 Australian companies.  The following is a summary identifying the companies with a brief description on their business activities and the amount of capital that they have raised to...

The government plans to give companies greater access to prior year tax losses in a bid to stimulate business innovation. A new alternative to the “same business test” – the “similar business test” – will make it easier for companies that have experienced a significant...

In recent years there has been much debate about the effectiveness and fairness of Australia’s current rules for taxing discretionary trusts. These trusts are very popular and are widely used for holding investments, conducting businesses and succession planning. However, a recent ATO-commissioned study that highlights...