Westcourt

New ATO attack on family trusts

The Australian Tax Office have released a long awaited draft tax rulings on the tax treatment of trust distributions to family members. In effect the ATO are looking at tax strategies which arrange for family trusts to allocate trust profits to family members (or companies) that are potentially on a lower tax rate where that… Continue reading New ATO attack on family trusts

Getting ready for an ATO Next 5,000 review

The ATO is currently undertaking “Next 5,000 reviews” on our client base and those wealthier families across Perth generally. Who is the focus of an ATO Next 5,000 review? The review is targeted primarily at the families in Australia whose wealth is from the Top 500 to the top 5,500 (hence the name “Next 5,000”). … Continue reading Getting ready for an ATO Next 5,000 review

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