Category: Uncategorized
-
JobKeeper payment in 10 minutes…
Ten minute video on COVID-19 and the JobKeeper payment… Enjoy And the source documents from the Treasury website
-
Work Related Deductions & Substantiation
“I just have to have the documentation to prove my work related deductions.” Wrong. If you don’t have the substantiation you don’t have a deduction. Subsection 900-15(1) states… To claim a work expense as a deduction you need to pass two tests. The first is the normal deduction rules and the second is you have…
-
A picture tells a thousand words…
If you look carefully you can find the amount those dodgy large corporate group dodge their tax affairs (illegally avoiding $2 billion in tax each year), but it is hard to see next to the ridiculously large amounts that small businesses (illegally avoiding $11.1 billion in tax each year – over 70% due to not…
-
Traveling while “on call”
I’m “on call” so my travel to and from work is not private… Wrong… Sometimes… According to Draft Taxation Ruling TR 2019/D7, titled “Income tax: when are deductions allowed for employees’ transport expenses?”, travel of an employee while ‘on call’ may not be private, even if it is between home and a regular place of work. Importantly,…
-
Imputation and Base Rate Entities
How many franking credits can I attach to this dividend, 30% or 27.5%? I have been asked this question countless times since we introduced Base Rate Entities and the lower company tax rate of 27.5%. It is not a hard question to answer, but the Commissioner has made the answers easier by finalising Law Companion Ruling LCR…
-
Gloxinia dies – finally
In my small town (Canberra) we love property development which we can sell to well paid public servants. But there is something strange about Canberra (more than one thing but stay on point Ken). We don’t own our land, we lease it off the government for 99 year. And after the Gloxinia case (Commissioner of…
-
Love Equality!!! and Tax
You know you are not funny when you have to start a blog post with “please understand this is an attempt at humour and not some political/moral/ethical statement.” Simply put, I thought it might make you laugh… I’m angry! Really angry! Its 2019 and still the Government wants to regulate what type of love is…
-
I win my taxi war with the Commissioner
Recently I have been complaining that the Commissioner has decided the word “taxi” in the GST Act includes an Uber (so Ubers have to register for GST and so he gets more GST) but in the FBT Act the word “taxi” does not include an Uber (so the FBT exemption for taxis does not apply…
-
The “dream” of funding everything through stopping large corporate tax evasion just ended…
For years now, organisations like the Tax Justice Network and various news outlets have screamed about how evil multinationals and large corporates are regarding avoiding tax. The explain the utopia we could live in if they were required to pay the tax the law states they should pay. Lets hope they love reading this… The ATO…
