Feb 26, 2025
ATO loses Federal Court appeal on Division 7A and unpaid trust entitlements
The Full Federal Court today handed down its decision in Bendel & Anor v Commissioner of Taxation [2023] AATA 3074
Richards Financial
News
Feb 13, 2025
Receiving payments or assets from foreign trusts
The ATO is focusing its attention on Australian residents who receive payments or assets from a foreign trust
Dec 17, 2024
When overseas workers are Australian employees
The Fair Work Commission has determined that a Philippines based “independent contractor” was an employee unfairly dismissed by her Australian employer.
Dec 09, 2024
WHAT MAKES OR BREAKS CHRISTMAS?
The cost of living has eased over the past year, but consumers are still under pressure. For business, planning is the key to managing Christmas volatility.
Jul 24, 2024
EARNED AN INCOME FROM THE SHARING ECONOMY?
It’s essential that any income earned from sharing economy platforms such as Airbnb, Stayz, Uber, etc., is declared in your tax return.
Jul 17, 2024
IS YOUR FAMILY HOME REALLY TAX FREE?
The main residence exemption exempts your family home from capital gains tax (CGT) when you dispose of it.
Jul 10, 2024
$20K INSTANT ASSET WRITE-OFF PASSES PARLIAMENT
Legislation increasing the instant asset write-off threshold from $1,000 to $20,000 for the 2024 income year passed Parliament just 5 days prior to the end of the financial year.
Jul 04, 2024
WHAT’S AHEAD FOR 2024-25?
WHAT’S AHEAD FOR 2024-25?
Jun 28, 2024
QUOTE OF THE MONTH
QUOTE OF THE MONTH
Jun 25, 2024
WHAT’S CHANGING ON 1 JULY 2024?
WHAT’S CHANGING ON 1 JULY 2024?
Jun 20, 2024
5 million+ struggle with mortgage payments
47% of Australian adults with debt - struggled to make repayments in the last 12 months
Jun 14, 2024
ATO FIRES WARNING SHOT ON TRUST DISTRIBUTIONS
The ATO has warned that it is looking closely at how trusts distribute income and to who.
Jun 13, 2024
YEAR END SUPER!!
If you want super contributions to be included in the 2023-24 financial year (for tax deductibility) the contributions need to reach the super funds by 30 June 2024.
Jun 07, 2024
THE ESSENTIAL 30 JUNE GUIDE
The end of the financial year is fast approaching. We outline the areas at risk of increased ATO scrutiny and the opportunities to maximise your deductions.
May 30, 2024
QUOTE OF THE MONTH
QUOTE OF THE MONTH
May 23, 2024
ACCESSING MONEY IN YOUR SMSF
The ATO has made a call to professional accountants to help identify and manage illegal early access to superannuation by members of self-managed superannuation funds (SMSFs).