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Approved SMSF auditors and s 109 — a good rule of thumb

As a lawyer, I do a substantial amount of work advising and representing approved SMSF auditors who are being audited/reviewed by the ATO and/or who have been referred to ASIC. Accordingly, I was interested to see an article in selfmanagedsuper quoting ATO Acting Deputy Commissioner Paul Delahunty as follows (https://smsmagazine.com.au/news/2025/01/20/proof-of-transaction-terms-a-concern/): Section 109 [of the SIS Act] [read more]

Property tax.investment planning.business real estate.economy crisis.expenses of worker.financial management

Another Victorian property tax set to increase substantially for homes, farmers and businesses

On 13 December 2024, the Victorian Government announced a substantial increase (between 100% to 190%, depending in the type of land involved) and other changes to the Fire Services Property Levy (FSPL). All property owners in Victoria are required to pay this levy apart from certain exemptions and concessions. Rename the levy The current FSPL [read more]

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An update on the congestion levy on parking spaces (Melbourne) – Part 2

The Victorian Government announced changes to the congestion levy as part of its 2024/25 Budget Update on 13 December 2024. This levy affects off-street car parking spaces in Melbourne’s central business district (CBD) and surrounding inner suburbs. This article follows on from the recent DBA article Congestion levy on parking spaces (Melbourne) and discusses some [read more]

Your guide to an SMSF exit plan

SMSF Succession Planning — Part 3 — Tax Considerations and Exit Planning

This article is part of a series on SMSF succession planning. In Part 2, we explored the important role of binding death benefit nominations (BDBNs). In Part 3, we examine tax considerations for superannuation death benefits, as well as planning options for arranging a timely payment of benefits to the member before their death.   [read more]

Legal document Independent Contractor Agreement on paper close up.

Employee or contractor — ATO common myths – Part 10

This is part 10 of our series of ‘employee versus contractor’ articles. Part 10 focuses on recently updated guidance from the ATO regarding 12 common myths that result in engaging entities incorrectly classifying an employee as a contractor or vice versa. The webpage (QC 33185) can be found here. The other articles (parts 1-9) are linked [read more]