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

Six handy tips on avoiding Superannuation Guarantee Charge Penalties (SGC)

As a business employer you have an obligation to pay superannuation on behalf of your staff.  And the tax penalties and tax administration of the superannuation guarantee system is complex and littered with multiple tax penalties ranging from higher superannuation, administration fees, loss of tax deductions and interest costs. The SGL applies to employment Australia… Continue reading Six handy tips on avoiding Superannuation Guarantee Charge Penalties (SGC)

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