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It is no secret that the rules on the various Capital Gains Tax (CGT) concessions and roll-overs are notoriously complex. However, in our experience, it...

In our July 2018 Tax Flash, we discussed a Tribunal case where the taxpayer was unsuccessful in arguing that (mostly vacant) land was an “active...

Congratulations to MandyB who won Round 9’s Corporate Footy Tipping Comp with a score of  9 and a round margin of 11! In second place was Aida T with a score...

Congratulations to Here for the Beer who won Round 9’s Accountants Footy Tipping Comp with a score of  9 and a round margin of 6! In second place was Michael Pudney with a...

The end of each financial year requires Accountants to consider their client’s Trusts and advise clients on distributions to be made to beneficiaries at year...

Congratulations to Dave Mc who won Round 8’s Corporate Footy Tipping Comp with a score of  8 and a round margin of 3! In second place was Jamie with a score...

Congratulations to IB who won Round 8’s Accountants Footy Tipping Comp with a score of  8 and a round margin of 9! In second place was Todd with a score of 7 and...

Congratulations to Ben B who won Round 7’s Corporate Footy Tipping Comp with a score of  8 and a round margin of 10! In second place was Rod W with a...

Congratulations to Big Dog who won Round 7’s Accountants Footy Tipping Comp with a score of  8 and a round margin of 22! In second place was Nick with a score of 8...

Support MKT Director Ben Reynolds on his mission to raise much needed funds for The Pirate Ship Foundation Ben has signed up with a team to hike...

Congratulations to Justin McGovern who won Round 6’s Corporate Footy Tipping Comp with a score of  9 and a round margin of 11! In second place was Mighty Hawk with a...

Congratulations to IB who won Round 6’s Accountants Footy Tipping Comp with a score of  9 and a round margin of 1! In second place was Justin McGovern with a score of 9...

Congratulations to Nic who won Round 5’s Corporate Footy Tipping Comp with a score of  7 and a round margin of 62! In second place was Terry Ball who also...

Congratulations to Nic who won Round 5’s Accountants Footy Tipping Comp with a score of  7 and a round margin of 62! In second place was George Young with a score...

Congratulations to Ben B who won Round 4’s Corporate Footy Tipping Comp with a score of  5 and a round margin of 7! In second place was Old East with a...

Congratulations to Johnathon – Everest Accounting who won Round 4’s Accountants Footy Tipping Comp with a score of 7 and a margin of 7! In second place was Andrew Counsel who had...

Congratulations to Courtney who won Round 3’s Corporate Footy Tipping Comp with a score of  7 and a round margin of 24! In second place was Geoff James with a...

Congratulations to Gary Day who won Round 3’s Accountants Footy Tipping Comp with a score of 7 and a margin of 1! In second place was The...

MKT have been working with a number of Remote Area employers and local governments recently to re-design their Remuneration Policies in order to take full...

Congratulations to The Bean Counters who won Round 2’s Accountants Footy Tipping Comp with a score of 6 and a round margin of 20! In second place was Gary Broomhall...

Congratulations to  Khaynes who won Round 2’s Corporate Footy Tipping Comp with a score of  7 and a round margin of 39! In second place was Dave...

Congratulations to Yeldep who won Round 1’s Accountants Footy Tipping Comp with a score of 6 and a round margin of 6! In second place was Jeffree...

Congratulations to Khaynes who won Round 1’s Corporate Footy Tipping Comp with a score of 6 and a round margin of 18! In second place...

The issues and difficulties with the ‘capital v revenue’ characterisation stretch back to around the time income taxes were introduced. Since that time it has...

Keeping your private group clients for the life of your firm: In public practice we have a wide variety of clients. There are those who...

Expat a Non-Resident – Permanent Place of Abode Outside Australia The Full Court in Harding v FCT [2019] FCAFC 29, Full Federal Court, Logan, Davies...

Tips and Traps in Working Out a Company’s Imputation Credits In our Spring 2018 Quarterly Tax Bulletin, we discussed the new rules on the reduced...

Trust Reimbursement Agreement – A Dark Cloud Looming? Section 100A of the Income Tax Assessment Act 1936 was introduced in 1979 as a specific anti-avoidance...

MKT’s 5th Annual PAN Member’s Conference will be held on Friday, 12 April 2019 at the UWA Club in Crawley. We have again assembled a...

In our October 2018 Tax Flash, we discussed a recent Federal Court case where a taxpayer unsuccessfully challenged the Commissioner of Taxation’s decision to deny...

Whether a profit is on capital or revenue account can have material implications for your client, not only whether the CGT discount can be used,...

Debt Forgiveness Q: A client’s trust borrowed money from a related party but has since made losses to the point where the trust has no...

The ATO’s recent activity in the GST space has been focussed on what they term “GST Streamlined Assurance Reviews”.  These are, in effect, comprehensive GST...

As we wrap up the first part of the reporting season for listed entities and now start on the September/October month-ends reporting for explorers, other...

This is an important question for many contractors, because if the answer is “Yes”, the contractor can be limited in what deductions they claim and...

Legislation has recently been passed by Parliament that changes the rules for accessing the reduced corporate tax rate of 27.50% for the 2018 and subsequent...

New Rules on the Reduced Corporate Tax Rate Legislation has recently been passed by Parliament that changes the rules for accessing the reduced corporate tax...

As part of the recent Federal Budget the Government has stated that they are committed to amending the rules on loans from private companies in...

The new GST withholding rules for New Residential Premises are now law and will apply from 1 July 2018 on contracts entered into after this...

New legislation is now in place to deny deductions for residential property investors on travel expenses incurred in inspecting their residential rental properties and depreciation...

There is a common misunderstanding that the tax consolidation regime is for the “big end of town”. Whilst tax consolidation does feature in the tax...

New Rules for Residential Property Investors; GST Collected at Settlement for New Residential Premises and New Developed Land; Changes Proposed for Private Company Loans; Tax...

Q: Is a SMSF able to claim reduced input tax credits on tax and audit fees incurred? A: From 1 July 2012, a new reduced...

MKT’S TOP 10 THINGS YOU NEED TO KNOW ABOUT THE 2018/19 FEDERAL BUDGET Last night the Government handed down the Federal Budget for the 2018-19...

SMSF’s and claiming reduced input tax credits Q: Given that a superannuation fund will predominantly make financial supplies (that is, the provision of an interest...

Since 1 July 2017 once a member’s superannuation balance reaches $1.6 million they are unable to make any further Non-Concessional Contributions. Furthermore, the bring forward...

In our previous QTB article, we discussed the Government’s proposed legislation for the company tax rate reduction applying from the 2017/18 income year. In this...

To counter “phoenixing“ activities in the property industry, the Government announced in the 2017-2018 Budget new GST withholding rules for purchasers of new residential premises...

Private companies often want to motivate, reward and ensure key employees stay with the business, but are often bot sure how to go about this....

Company Tax Rate Reduction for the 2015/2016 and 2016/2017 Years; Start-Up ESS Concessions; Property Industry Alert! – New GST Withholding Rules; Challenges in owning property...

Selling solar energy in your Superannuation Fund Q: My client has a property owned by their family trust being rented to a related party. Can...

2018 PAN Conference Friday 6th April 2018 The UWA Club, Crawley MKT would like to invite you to the 2018 PAN Conference exclusively for members...

We live in a more integrated world than ever before. As a result, the workforce is more globalised and increasingly more mobile. It is increasingly...

With the festive season and the 2018 new year approaching, here are a few target areas which can get you or your client onto the...

In our July and October 2017 PAN Member Tax Flashes, we noted that the Australian Taxation Office (ATO) in a footnote to the draft ruling...

We have noticed in recent times the Office of State Revenue (”OSR”), have ramped up their presence and are conducting a significant number of reviews....

Breaking Australian Residency for Tax Purposes; Passive Investment Companies and the Lower Tax Rate – Take 3!; Payroll Tax – The often forgotten but painful...

GST and entitlement to input tax credits Q: Can you claim the goods and services tax (GST) included in the purchase price of a motor...

Dividends/Loans and Payroll Tax Q: Can payments made to shareholders by way of dividends (rather than salaries or wages) be subject to Payroll Tax in...

GST and Internet Supply Q: Are you liable to pay GST on the sale of the computer software downloaded from the Internet by the purchaser?...