Contractor or Employee

Just because an agreement states that a worker is an independent contractor, this does not mean that they are a contractor for tax and superannuation purposes, new guidance from the ATO warns.

The problem when the evidence doesn't match what the taxpayer tells the ATO

A recent case before the Administrative Appeals Tribunal (AAT) highlights the importance of ensuring that the evidence supports the tax position you are taking.

TaxationJPR BUSINESS GROUP9 January 2024ATO, Taxation, australian tax office

Tax Super Balances Above $3m hits Parliament

Legislation enabling an extra 15% tax on earnings on super balances above $3m is before Parliament.

Superannuation, TaxationJPR BUSINESS GROUP11 December 2023Taxation, superanuation

The controversial case of the taxpayer who claimed a loss on their home

A decision by the Administrative Appeals Tribunal has the tax world in a flurry after the Tribunal found in favour of a taxpayer who sold the apartment she lived in for a loss, then claimed the $265,935 loss in her tax return as a deduction.

TaxationJPR BUSINESS GROUP11 December 2023tax deductions, Taxation, ATO

Bah humbug: The Christmas tax dilemma

Don’t want to pay tax on Christmas? Here are our top tips to avoid giving the Australian Tax Office a bonus this festive season.

TaxationJPR BUSINESS GROUP7 December 2023ATO, tax deductions, Taxation, FBT

The Key Influences of 2024

Uncertainty has reigned over the last few years, but can we expect more consistency as we head into 2024? We explore some of the key issues and influences.

When is food GST free?

Chobani plain yoghurt is GST-free but Chobani’s ‘flip’ range is taxable? A recent case before the AAT demonstrates how fine the dividing line is between GST-free and taxable foods.

JPR BUSINESS GROUP10 November 2023

When trust distributions to a company are left unpaid

What happens when a trust appoints income to a private company beneficiary but does not actually make the payment?

Financial Accounting, InvestmentJPR BUSINESS GROUP7 November 2023tax, trust, company tax

Up to 10 years in prison for deliberate 'wage theft'

Legislation currently being debated in Parliament will introduce a new criminal offence for intentional “wage theft”. If enacted, in addition to the criminal offence, a fine will apply. The fine is three times the underpayment

Warning: redrawing investment loans

The ATO estimates that incorrect reporting of rental property income and expenses is costing around $1 billion each year in forgone tax revenue. A big part of the problem is how taxpayers are claiming interest on their investment property loans.

Investment, Financial AccountingJPR BUSINESS GROUP3 November 2023investment, investment loan