Category Archives: Uncategorized

When does a company carry on a business?

This is an important question, primarily for the small business entity concessions which require the entity to be carrying on a business. It is also important for applying the lower company tax rate before 1 July 2017, when a company … Continue reading

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New powers for the Commissioner if he is concerned you won’t pay your tax

In a new Bill before Parliament (Treasury Laws Amendment (Combating Illegal Phoenixing) Bill 2019) the Commissioner gets some new powers. First, this Bill will allow the Commissioner to retain tax refunds where a taxpayer has failed to lodge a return … Continue reading

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Buying listed shares in a company?

I know, I know… This is a stupid idea as you lose the CGT discount… But remember that the discount could be 25%, not 50%, if there is a change in Government in May. And the highest marginal tax rate … Continue reading

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If I don’t exist you can’t tax me…

In country Victoria, when they get caught for not lodging tax returns, they try (and fail) to avoid having to do so by arguing they do not exist. Has he ever heard of “Cogito, ergo sum” (I think therefore I … Continue reading

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Proving deductions for home office expenses, mobile phones and internet

Sometimes it is good to remember the basics, especially when the Commissioner is focusing on it. So lets go back to 2001 and have a look at one of my favourite Practice Statements – Practice Statement Law Administration PS LA 2001/6 Verification approaches … Continue reading

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Avoiding tax can lead to a longer life?

Go to Wikipedia and look at the list of the verified oldest people and coming in first is Jeanne Calment, who it is claimed was born on 21 February 1875 and passed away on 4 August 1997 at the ripe … Continue reading

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A new way to get people to pay their tax and lodge their returns – don’t let them vote

I was reading the 24th Amendment of the United States Constitution on a Saturday night (doesn’t everyone read comparative international tax for a big night out on Saturdays?) and found that Congress and the states cannot stop people voting in … Continue reading

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