The Administrative Appeals Tribunal (AAT) has held that a taxpayer who jointly owned a townhouse with his son (who lived there) was liable for CGT on his share of the property when it was sold.
Facts:
In April 2002, the taxpayer purchased a townhouse for his adult son to reside in, but he had both of them registered on the title of th... |
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Two recent cases have highlighted how important the distinction between 'independent contractors' and 'employees' is:
in one case, it was held that a plumbing business did not meet its superannuation guarantee obligations in respect of five of its plumbers that it had treated as independent contractors; and
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The AAT has upheld the application of a 50% penalty to a taxpayer for ‘recklessness’ in claiming deductions that couldn’t be substantiated.
Facts:
In the 2011/12 tax year, the taxpayer made the following claims for tax deductions in relation to his work as a car salesman:
work-related car expenses of $23,065;
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Boom time or down time, every business needs to manage the Christmas period. Managing the holiday season well can make a big difference to how your business is positioned in the New Year. Here are our top tips:
The scrooge approach to outstanding debtors
Put extra effort into following up debtors. The closer we get to Chri... |
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If you haven’t reviewed your salary sacrifice arrangement for a while then two recent changes should have spurred you into action.
The first is the increase to the super guarantee (SG) rate from 1 July 2013. While the increase from 9% to 9.25% doesn’t sound like a lot, it can have a big impact. The problem is the conc... |
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