Newsletter - August 2024

Author

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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