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.

Pick any ABN…

The federal government’s Black Economy Taskforce claims 40 per cent of ABNs quoted in the Northern Territory were the Bunnings ABN… You have to love the Northern Territory… Advertisements

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Rental properties and electricity data matching

From the Commissioner… His newest weapon is the data-matching of utility records, like electricity and gas meters, against properties that are claimed to be unoccupied, to test if landlords are telling the truth. “There’s going to be a whole lot … Continue reading

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The Worst Tax Cheats Are… Salary and Wage Earners by Far!

The Commissioner has started to release “Tax Gaps”. He says a “Tax Gap” is: The tax gap is an estimate of the difference between the amounts the ATO collects and what we would have collected if every taxpayer was fully … Continue reading

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Capital Loss Rental Property Schedules

I keep getting asked by Tax Depreciation providers if they should do Capital Loss Rental Property Schedules. The answer is almost always no and this is why… Capital Loss Rules Some Tax Depreciation preparers have told me that they are … Continue reading

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The next idea to avoid Div 7A gets messy

From the ATO website… Lots of people have asked me for years if they can “fix” a UPE from a unit trust to a company that is subject to Div 7A by converting the UPE to an equity investment in … Continue reading

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When does the new GST withholding on new residential property start…

I have already written about the changes to GST for property developers from 1 July 2018. But everyone is already asking me about the transitional rules. So here is the summary… First, the requirement for the purchaser to withhold 1/11th … Continue reading

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What company tax rate should I use?

What Company Tax Rate should I use? 27.5% or 30%? What imputation rate should I use? 27.5% or 30%? Here are my thoughts (and sorry it took me 9 pages to answer the questions)… Company Tax Rates and Imputation

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