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.

Unpaid present entitlements to corporate beneficiaries

In December 2009 the Commissioner changed his position on unpaid present entitlements to corporate beneficiaries – claiming they became Division 7A loans after a year. I, like many people raised this with the Government and they said “wait for the … Continue reading

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Another ridiculous tax policy… supported by every side

When there is change in government you hope they can dump all the stupid ideas of the previous government. But with the new government still needing to find savings stupid ideas seem not so stupid. In the May 2013 Budget … Continue reading

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Reserving strategies work…

In a new Taxation Determination (TD 2013/22) the Commissioner gives a green light to reserving strategies to avoid excess contributions. He states that if a fund receives contributions in year 1 but allocates it to a member in year 2, … Continue reading

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Moving from cash to accruals

Since the Henderson Case it has been clear that there is only one appropriate way to return income for a year – either cash or accruals. TR 98/1 covers which one is correct for each year. But what happens to … Continue reading

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Part IVA and partnerships of discretionary trusts

The most annoying habit of the Commissioner is to let everyone do something for years and then to finally try to close it down. Take the Commissioner’s announcement on 16 December 2009 that an unpaid present entitlement from a trust … Continue reading

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The post the salary packagers do not wanted you to see…

Go to any salary packager’s website and they will have a calculator. After you complete or the details the calculator will tell you how much you will save in tax by salary packaging a car. THIS NUMBER IS ABSOLUTELY RUBBISH. … Continue reading

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Finding extra revenue in the tax system? Where?

I think I have a right to say this as I gave up a high paid job as a tax advisor and spent three years working in the Treasury, on the Henry Review and in the office of the Assistant … Continue reading

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