Tax Essentials 2019

Tax Essentials Standard All of the benefits and content of Tax Essentials Standard, whilst adding additional personal answers from our tax experts, extra content and more updates. Tax Essentials Downloads 2020 – 2021 Manual Coronavirus Resources Issue 106 – Asset Protection 2020 Readers Most Popular Q & A 2019-2020 ▸ Archived Readers Most Popular Q & A 2018-2019 2019 – …

bO2 2021 Effective Lives

James Murphy Tax

The ATO has a dedicated team whose role is to update and expand the Commissioner’s effective life schedule attached to Taxation Ruling TR 2020/3.  This is achieved by staff undertaking effective life reviews, either of a single asset (such as concrete truck mixers), or an industry (e.g. professional photographic services). Broadly, these reviews involve: Identifying the assets currently used in …

bO2 2021 Ch 20 Tax Reform

James Murphy Tax

THE INTERGENERATIONAL REPORT The 2015 Intergenerational Report made for some sobering reading. It offered insights in Australia’s future and its implications for the fiscal health of the Federal Government and the case for tax reform. The Intergenerational Report explores where we will be in 2055, how will we be dealing with a rapidly ageing population and indeed how we will …

bO2 2021 Ch 19 Consolidation

James Murphy Tax

 CONSOLIDATION – TAXING WHOLLY OWNED GROUPS AS SINGLE ENTITIES The income taxation of consolidated and MEC (Multiple Entry Consolidated) groups has been in force since 1 July 2002. Eligible companies, partnerships and trusts that are wholly owned are taxed as if they are part of a single head company.  Many small businesses use simple structures (a single company, partnership, or …