Author Archives: Ken Mansell

About Ken Mansell

As a stay at home Dad most of the week this is my way of pretending I am still the tax counsel of ASX and SEC listed companies, working at big 4 firms, working at the Federal Treasury, on the Henry Review and at Parliament House for the previous government.

What a waste of time…

I know the ATO is famous for wasting others time but what about when they waste their own time… Today (18 October) the ATO released a draft Taxation Ruling (TR 2017/D7) titled “Income tax: when does a company carry on … Continue reading

Posted in Uncategorized | Leave a comment

Not more on rental property depreciation!

Sorry but I keep getting asked about the grandfathering provisions in the Treasury Laws Amendment (Housing Tax Integrity) Bill 2017 that relate to claiming Division 40 depreciation on assets in rental properties. So this is the link I can just send … Continue reading

Posted in Uncategorized | Leave a comment

What is a Taxi?

Lets start with a definition… According to dictionary.com… contradiction kɒntrəˈdɪkʃ(ə)n noun a combination of statements, ideas, or features which are opposed to one another. When considering the exemption from FBT for certain taxi travel under section 58Z of the FBTAA86, … Continue reading

Posted in Uncategorized | Leave a comment

Who gets the 27.5% Company tax rate?

You would think this is an easy question to ask… But it is not. The rules seem pretty easy. They are: A corporate tax entity carries on a business in the income year; The aggregated turnover of the corporate tax … Continue reading

Posted in Uncategorized | Leave a comment

Einstien on Income Tax

Albert Einstien used a tax agent called Leo Mattersdorf. He told the following story a few years after Einstein’s death in 1955… One year while I was at his Princeton home preparing his return, Mrs Einstein, who was then still … Continue reading

Posted in Uncategorized | Leave a comment

Tax Depreciation Bill in Parliament

The Bill to limit tax depreciation for residential buildings has started its process through the Parliament. I have discussed these changes before, firstly when they were announced on Budget night, and second when draft legislation was released for consultation. But now … Continue reading

Posted in Uncategorized | Leave a comment

What Dual Citizenship Issues Can Mean For Tax

It is not hard to imagine that one of the many members of the House of Reps will find they have fallen foul oft section 44 of the Constitution, the section that stops dual citizens from sitting in the House. … Continue reading

Posted in Uncategorized | Leave a comment