News

Improvements to GST Risk Assessment Are you a business that has had a GST refund held up as a part of the ATO’s risk assessment program to verify GST refunds? The Inspector-General of Taxation (IGT) has recently completed and released his review into ATO’s practice...

Corporate Tax Rates: Recent Changes Give Certainty There’s finally some certainty about the corporate tax rate(s). Legislation has recently passed Parliament and the fate of other proposed changes has also been finalised. The law is settled, so it’s a good time to...

Meaning Of Independent: Financial Advisers The terms “independent”, “impartial”, or “unbiased” or similar terms can only be used to describe financial advisory businesses that meet certain conditions under the Corporations Act. Such conditions include not receiving...

Direction Of Future Tax Reform To be fiscally responsible, a government needs to have enough resources to service its debt obligations. One of the main sources a government uses to service its debts is tax revenue. A recent report by the Parliamentary Budget Office...

Small Business Tax Concessions Businesses that satisfy a certain turnover threshold may qualify as a small business entity. The advantages of being a small business entity includes access to a range of tax concessions including lower tax rates, capital allowance...