by Peter Ristevski | Mar 24, 2025 | ATO, Division 7A loans, Family Trusts
Since 16 December 2009, the Australian Taxation Office (ATO) has maintained the view that when a family trust appoints income to a corporate beneficiary (referred to as the beneficiary company) without making a payment, the unpaid present entitlement (UPE) constitutes...
by Investment Plus Accounting Group | Mar 6, 2025 | Business, GST, Small Business
The ATO-led Serious Financial Crime Taskforce (SFCT) has issued a stern warning to businesses about the risks of attempting to exploit the tax and superannuation system through GST fraud. While it’s legitimate to optimise your tax position, businesses must avoid...
by Investment Plus Accounting Group | Dec 21, 2024 | ATO, Finance, Finance and Loans, Investments, Property Investment, Property Investment Tips
The Australian Taxation Office (ATO) has heightened its scrutiny of certain businesses, particularly in the property and construction sectors, over concerns that they are claiming excessive debt deductions and shifting profits offshore. The ATO has specifically issued...
by Peter Ristevski | Jul 2, 2024 | Small Business, Tax & Accounting, Tax Planning, Tax Tips
As the financial year wraps up on June 30, many Australian taxpayers are eager to lodge their tax returns in July, hoping for a quick refund. However, rushing to submit your tax return as soon as possible may not be the best strategy. Here are several reasons why you...
by Peter Ristevski | Jun 20, 2024 | ATO, Cryptocurrency, Tax & Accounting
What is Cryptocurrency? Cryptocurrency, commonly referred to as crypto, is a digital or virtual currency. Unlike traditional currencies, it is not controlled by any central authority, and there are no physical coins or notes involved. Transactions are purely digital,...
