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Funny Stuff Tax Policy

Economists advising us on tax again…

Peter Martin, the economics editor at the Age writes… “The finance minister is two-thirds right. He says if the government can’t balance its books by cutting spending, “the only alternative to balance the books is to increase taxes. There’s only one other option. It’s neither an increase in tax nor a cut in spending. It’s […]

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Income Tax Legislation Rulings

Divorce and Division 7A

In Taxation Ruling TR 2014/5 the Commissioner confirms one of the most overlooked tax issues in marriage breakdowns. For example, if money or property is paid or transferred to a shareholder, if these payments are paid out of the private company profits, it will generally be an assessable dividend. In addition, money or property transferred […]