The Tribunal has affirmed the Tax Office decision to deny claims for fuel tax credits by a sawmilling business due to lack of records and dubious evidence from one of the taxpayers.

The burden of new charity regulations could lead to smaller not-for-profit organisations closing up and turn civic-minded people away from involvement in philanthropic organisations.

Dividends can only be paid from profits according to a new draft ruling released by the Tax Office. This contradicts recent changes by Treasury to the Corporations Act.

You can help protect your family against unexpected claims and creditors if you establish a discretionary trust...

“Deep law experts” maybe redeployed from the Tax Office Tax Counsel Network and Centres of Expertise to front line areas to lift the level of expertise in complex and international tax matters for field and advice staff.

To receive the $726 per child Family Tax Benefit Part A supplement, parents will need to ensure their child is fully immunised at one, two and five years of age unless they have registered as a conscientious objector to immunisation.

Unused ABNs will be cancelled by the Tax Office where their records indicate that the taxpayer is not carrying on an enterprise

In contrast to the usual non-application of tax on distributions of cash representing trust capital, the Tax Office has issued an Interpretative Decision applying tax to a new Australia resident beneficiary of a non-resident trust. The Trust had derived foreign source income, accumulated it as trust capital and paid ...

Super funds are prohibited from borrowing...

There are recent cases where disputes over valuations have lead to taxpayers being defeated in the Tribunal on small business CGT concession matters.

Bona fide fringe benefits are excluded from deemed Division 7A dividends that can occur when ...

The Tax Office will exercise its data collection powers to chase up lawyers, visa holders, boat owners, motor vehicle registration holders, credit card holders and other taxpayers. Databases held by other Government departments, banks and insurance companies will be accessed and matched to the Tax Office’s own data holdings.

Deemed dividends where a company makes payments or loans, or forgives a debt to a shareholder or their associate, may be reduced following a decision of the Full Federal Court and the issue of a replacement Draft Tax Determination about when income tax becomes a present legal obligation ...

Private equity investors will miss out in the Government’s newly announced Investment Manager Regime designed to attract substantial funds from offshore for management within Australia ...

Employers that misclassify someone as an independent contractor (rather than an employee) face big risks for employee entitlements, withholding tax, superannuation and also unfair dismissals following a Fair Work Australia decision in December ...

Official inflation for the 2011 calendar year was 3.1% with some categories out of the “basket of goods and services” up and others down. Domestic holiday travel and accommodation prices rose by ...

Issue partly paid shares in a company to avoid value shift penalties when new shareholders can ...