by George Kolliou | Jul 26, 2013 | Features, Technical Advice
trusts or trust beneficiaries who have received substantial income and have not lodged returns or activity statements; arrangements whereby income is distributed to low-tax beneficiaries while the benefits of the distribution are enjoyed by others; and ...
by George Kolliou | Jun 1, 2013 | Features
The Commissioner of Taxation has a two-year period to amend a taxpayer’s tax return where that taxpayer is an individual or a qualifying small business taxpayer. Four-year time limits apply to taxpayers with more complex tax affairs, including those who are...
by George Kolliou | Mar 30, 2013 | Features
The sole trader taxpayer carried on a business selling second-hand cars. Following an audit, the Commissioner found that the taxpayer had understated both GST sales in his BAS returns and his net business income in his tax returns. Although the taxpayer accepted that...
by George Kolliou | Feb 1, 2013 | Features
The Administrative Appeals Tribunal (AAT) has held that an employee of a suburban tax practice who had client funds improperly paid into his personal bank account by his employer was not assessable in respect of those as he was not beneficially entitled to them. Facts...
by George Kolliou | Dec 1, 2012 | Features
In the first case, the Administrative Appeals Tribunal (AAT) affirmed the Tax Practitioners Board’s decision to terminate the registration of a tax agent (Tung), following the lodgement by Tung of a number of unverified tax returns without making direct contact with...
