Australia
ATO finalises approach to the allocation of professional firm profits

By William Buck on 17/05/21 - Mins to read: 5 minutes

For many years the Australian Taxation Office (ATO) has been concerned that an insufficient portion of the profits of professional firms have been taxed in the hands of the firm’s partners. Instead, those profits have been distributed to related entities of the partner who are on lower tax rates, thus...
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ATO clamp down on trusts – is income splitting dead?

By William Buck on 17/05/21 - Mins to read: 5 minutes

The ATO has announced a major crackdown on the taxation of family trusts. In a long-awaited ruling, the ATO has focused on common tax planning strategies involving distributions to companies and family members. This crackdown means that family groups will urgently need to reconsider how they are using their family...
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How will COVID-19 impact my insurance coverage?

By William Buck on 17/05/21 - Mins to read: 5 minutes

For two years, COVID has disrupted our lives, our short-term goals and achievements. But what impact has it had on our long-term goals and protecting our future? This short article aims to address some common questions that you may have in relation to applying for or claiming on your Insurance....
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