This month we look at: when is a gift really a gift and what happens if the ATO takes a different view? Plus, divorce implications for you and your business, and new TPB requirements for tax agents.
- When is a gift really a gift and what happens if the ATO takes a different view?
The Tax Commissioner has successfully argued that more than $1.6m deposited in a couple’s bank account was assessable income, not a gift or a loan from friends. Pages 1-3. Read More
- Divorce implications for you and your business
Breaking up is hard to do. Beyond the emotional and financial turmoil divorce creates, there are a number of issues that need to be resolved. Page 4. Read More
- New TPB requirements for tax agents
The Government has amended the legislation guiding registered tax practitioners to include compulsory reporting of material uncorrected errors to the Tax Commissioner. Pages 5-6. Read More
Quote of the month:
“Only the guy who isn't rowing has time to rock the boat”.
Jean-Paul Sartre, Philosopher
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