Are you paying your staff correctly? Woolworths $200m plus remediation

Woolworths is the latest company to facing a fallout from the underpayment of staff. In what is believed to be the largest remediation of its kind, Woolworths have stated that they have underpaid 5,700 salaried team members with remediation expected to be in the range of $200m to $300m (before tax).

Financial Accounting, Corporate Secretarial, TaxationJPR BUSINESS GROUP1 November 2019tax, wages, wage theft

Can the tax office take money out of your account? Your right to know

You might have seen the recent spate of media freedom advertisements as part of the Your Right to Know campaign. The prime-time advertising states that the Australian Tax Office (ATO) can take money from your account without you knowing. The question is, do you really know what powers the ATO have?

Investment, TaxationJPR BUSINESS GROUP1 November 2019tax, Taxation

Vacant land deduction changes hit ‘Mum & Dad’ property developments

Legislation that passed through Parliament last month prevents taxpayers from claiming a deduction for expenses incurred for holding vacant land. The amendments are not only retrospective but go beyond purely vacant land.

Investment, Superannuation, TaxationJPR BUSINESS GROUP1 November 2019tax, Taxation, property, property law

CGT and the family home: expats and foreigners targeted again

The Government has resurrected its plan to remove access to the main residence exemption for non-residents – a move that will impact on expats and foreign residents.

Taxation, SuperannuationJPR BUSINESS GROUP1 November 2019Tax, Taxation, Capital Gains Tax