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The Tax Agent Services Act 2009 (TASA) has undergone significant changes, introducing new "Dob-In Rules" for tax agents....
08/12/2024

The Tax Agent Services Act 2009 (TASA) has undergone significant changes, introducing new "Dob-In Rules" for tax agents. But what does this mean for professionals in the industry?

Andrew Henshaw of Velocity Legal breaks down these key updates, including the 30-day breach reporting rule, the James Review’s recommendations, and the evolving Code of Conduct.

The ATO's guidance on PSI arrangements highlights both low-risk setups (no income splitting, clear commercial purposes) ...
04/12/2024

The ATO's guidance on PSI arrangements highlights both low-risk setups (no income splitting, clear commercial purposes) and high-risk ones (income splitting, profit retention).

Want to dive deeper? Andrew Henshaw from Velocity Legal explains six key examples in the latest podcast episode.

https://www.taxtalks.com.au/psi-examples-in-pcg-2024-d2/

PCG 2024/D2 has shaken up the PSI landscape, sidelining the familiar PSB tests and bringing Part IVA back into focus. If...
24/11/2024

PCG 2024/D2 has shaken up the PSI landscape, sidelining the familiar PSB tests and bringing Part IVA back into focus. If you thought passing one of the four PSB tests was your safe zone—think again.

🎙️ Learn how these changes impact you from Andrew Henshaw of Velocity Legal.

👉 Don’t miss this crucial update—your business depends on it! https://www.taxtalks.com.au/psi-in-pcg-2024-d2/

Did you know the Test Individual (TI) is the cornerstone of every Family Trust? Everything revolves around this key figu...
17/11/2024

Did you know the Test Individual (TI) is the cornerstone of every Family Trust? Everything revolves around this key figure, from making a Family Trust Election (FTE) to claiming tax benefits and managing distributions. The TI defines the Family, Group, and Family Group, shaping who’s in and who’s out. This impacts tax obligations, franking credits, and much more.

Choosing the right TI is a game-changer for your trust’s structure and compliance. Make informed choices to avoid costly surprises!

💡 Learn more about navigating the intricacies of Family Trusts with Jonathan Ortner.

https://www.taxtalks.com.au/test-individual-in-a-family-trust-election/

For private clients, Family Trust Elections (FTEs) come up often, but they’re risky if not handled right! FTEs can trigg...
04/11/2024

For private clients, Family Trust Elections (FTEs) come up often, but they’re risky if not handled right! FTEs can trigger Family Trust Distribution Tax (FTDT), and unlike regular taxes, there’s no amendment period — the ATO can revisit FTDT years later.

In our latest episode, Jonathan Ortner answers the top 10 questions on making FTE decisions safely.

https://www.taxtalks.com.au/fte-questions/

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