Tax
CategoryATO provides further guidance on SMSF related party arrangements
The ATO has provided further guidance regarding limited recourse borrowing arrangements (LRBAs) and when non-arm’s length income (NALI) ru..
ATO crackdown on trusts
The ATO is currently targeting contrived trust arrangements that minimise tax by creating artificial differences between the taxable net i..
Income tests for tax offsets
Income tests are used to work out a person’s eligibility for tax offsets and benefits which can reduce the amount of tax they have to pay…
Claiming tax offsets and rebates
Tax offsets (also known as ‘rebates’) can directly reduce the amount of tax payable on a person’s taxable income. While claiming certain t..
ATO develops safe harbour for car fringe benefits
The Australian Tax Office has recently collaborated with industry representatives to develop a safe harbour for car fringe benefits. A saf..