ATO’s Next 5,000 Private Wealth Combined Assurance Reviews The ATO’s high wealth private groups (HWPGs) review program, the Next 5,000 is currently underway and should...
Expenses Associated with Vacant Land – TR 2021/D5 Effective from 1 July 2019, deductions are limited for losses or outgoings that relate to holding vacant...
Business of Letting Rental Properties In recent years, the Government has introduced rules to restrict certain deductions for landlords owning rental residential properties. The following...
Loss Carry Back Tax Offset (“LCB”) – to carry back or not to carry back, that is the question! The temporary loss carry back rules...
Our 2021 Season Winner is Rooboy*1 with a total score of 141 and total margin of 530. In second place is willie87 with a total...
Our 2021 Season Winner is NickE. with a total score of 135 and total margin of 599. In second place is Todd Harnett with a...
Congratulations to Rooboy*1 who won Round 22’s Corporate Footy Tipping Comp with a weekly score of 8 and a round margin of 22. In second...
Congratulations to sammy_graffin who won Round 22’s Accountants Network Footy Tipping Comp with a weekly score of 8 and a round margin of 12. In...
Congratulations to Alby2830 who won Round 21’s Corporate Footy Tipping Comp with a weekly score of 5 and a round margin of 27. In second...
Congratulations to NickE. who won Round 21’s Accountants Network Footy Tipping Comp with a weekly score of 6 and a round margin of 14. In...
Congratulations to Ben Reynolds who won Round 20’s Corporate Footy Tipping Comp with a weekly score of 8 and a round margin of 4. In...
Congratulations to Johnno – Everest Accounting who won Round 20’s Accountants Network Footy Tipping Comp with a weekly score of 8 and a round margin of...
Congratulations to Orrsum who won Round 19’s Corporate Footy Tipping Comp with a weekly score of 7 and a round margin of 5. In second place...
Congratulations to PeterSpeech who won Round 19’s Accountants Network Footy Tipping Comp with a weekly score of 6 and a round margin of 3. In...
Congratulations to Orrsum who won Round 18’s Accountants Network Footy Tipping Comp with a weekly score of 9 and a round margin of 56. In second...
Congratulations to Mighty Hawk Cyril who won Round 18’s Corporate Footy Tipping Comp with a weekly score of 9 and a round margin of 54....
Congratulations to Kim Wallman who won Round 17’s Accountants Network Footy Tipping Comp with a weekly score of 6 and a round margin of 13....
Congratulations to Link. who won Round 17’s Corporate Footy Tipping Comp with a weekly score of 5 and a round margin of 31. In second...
Draft Law Companion Ruling on Temporary Full Expensing On 9 June 2021, the ATO released draft Law Companion Ruling LCR 2021/D1 in relation to the...
Congratulations to Rooboy*1 who won Round 16’s Corporate Footy Tipping Comp with a weekly score of 7 and a round margin of 10. In second place...
Congratulations to Team_Rice who won Round 16’s Accountants Network Footy Tipping Comp with a weekly score of 7 and a round margin of 10. In second...
Congratulations to Grrgy1 who won Round 15’s Corporate Footy Tipping Comp with a weekly score of 6 and a round margin of 37. In second...
Congratulations to Harold_Wai who won Round 15’s Accountants Network Footy Tipping Comp with a weekly score of 6 and a round margin of 19. In...
Congratulations to Bill_Oliver who won Round 14’s Accountants Network Footy Tipping Comp with a weekly score of 5 and a round margin of 1. In second...
Congratulations to The Bombres who won Round 14’s Corporate Footy Tipping Comp with a weekly score of 5 and a round margin of 0. In...
Congratulations to Link. who won Round 13’s Corporate Footy Tipping Comp with a weekly score of 5 and a round margin of 21. In second...
Congratulations to Kristin Chabrel who won Round 13’s Accountants Network Footy Tipping Comp with a weekly score of 6 and a round margin of 21....
Changes for Expats Selling their Former Homes Apply for 2021 & Later Years After the expiry of the transitional period on 30 June 2020, the...
Mussalli v FCT – Another Capital vs Revenue Decision The recent Full Federal Court case Mussalli v FCT [2021] FCAFC 71 decided that upfront payments...
GST, Supply of Property & Requirements to Register As housing prices across Australia accelerate through a combination of ultra-low interest rates, strong consumer confidence and...
Congratulations to Katrina Martin who won Round 12’s Accountants Network Footy Tipping Comp with a weekly score of 6 and a round margin of 7....
Congratulations to – Jus – who won Round 12’s Corporate Footy Tipping Comp with a weekly score of 6 and a round margin of 2....
Congratulations to – The GC – who won Round 11’s Corporate Footy Tipping Comp with a weekly score of 8 and a round margin of...
Congratulations to Dhuies who won Round 11’s Accountants Network Footy Tipping Comp with a weekly score of 8 and a round margin of 3. In second...
Congratulations to Justin McGovern who won Round 10’s Corporate Footy Tipping Comp with a weekly score of 8 and a round margin of 12. In...
Congratulations to Johnno – Everest Accounting who won Round 10’s Accountants Network Footy Tipping Comp with a weekly score of 8 and a round margin...
Congratulations to Dave Mc99 who won Round 9’s Corporate Footy Tipping Comp with a weekly score of 8 and a round margin of 7. In...
Congratulations to Kangas129 who won Round 9’s Accountants Network Footy Tipping Comp with a weekly score of 9 and a round margin of 18. In...
PSI and the ATO’s New Draft Ruling The Personal Service Income (PSI) rules are a perennial issue with tax advisers and their clients. The “statutory”...
Congratulations to Aida T who won Round 8’s Corporate Footy Tipping Comp with a weekly score of 9 and a round margin of 56. In...
Congratulations to TB Rooster who won Round 8’s Accountants Network Footy Tipping Comp with a weekly score of 9 and a round margin of 49....
Congratulations to Spacecca who won Round 7’s Corporate Footy Tipping Comp with a weekly score of 6 and a round margin of 19. In second...
Congratulations to Gazman57 who won Round 7’s Accountants Network Footy Tipping Comp with a weekly score of 7 and a round margin of 10. In second...
Congratulations to NickE. who won Round 6’s Accountants Network Footy Tipping Comp with a weekly score of 9 and a round margin of 38. In...
Congratulations to Nick Fijac who won Round 6’s Corporate Footy Tipping Comp with a weekly score of 8 and a round margin of 9. In...
Professional Firm Profits – PCG 2021/D2 On 1 March 2021, the ATO released Draft Practical Guideline PCG 2021/D2 Allocation of professional firm profits – ATO compliance...
Congratulations to Hawks surge who won Round 5’s Corporate Footy Tipping Comp with a weekly score of 8 and a round margin of 67. In...
Congratulations to Jaysen Miguel who won Round 5’s Accountants Network Footy Tipping Comp with a weekly score of 9 and a round margin of 63....
Congratulations to Ben Reynolds who won Round 4’s Accountants Network Footy Tipping Comp with a weekly score of 7 and a round margin of 0....
Congratulations to Rooboy*1 who won Round 4’s Corporate Footy Tipping Comp with a weekly score of 8 and a round margin of 15. In second...
Congratulations to Ben Reynolds who won Round 3’s Corporate Footy Tipping Comp with a weekly score of 7 and a round margin of 4. In...
Congratulations to Carmelc who won Round 3’s Accountants Network Footy Tipping Comp with a weekly score of 8 and a round margin of 12. In...
Congratulations to samwright78 who won Round 2’s Corporate Footy Tipping Comp with a weekly score of 8 and a round margin of 1. In second...
Congratulations to Jaysen Miguel who won Round 2’s Accountants Network Footy Tipping Comp with a weekly score of 9 and a round margin of 16....
Congratulations to I’m a Shuey in who won Round 1’s Accountants Network Footy Tipping Comp with a weekly score of 7 and a round margin...
Congratulations to Buckley_chance_ who won Round 1’s Corporate Footy Tipping Comp with a weekly score of 7 and a round margin of 5. In second...
Temporary Full Expensing for SBEs On 1 February 2021, CPA, CAANZ, IPA together with the Law Council of Australia and The Tax Institute, lodged a...
Structuring and Restructuring for SME Businesses One of the key decisions a business person has to make before embarking on a new business is the...
Extension of FBT Concessions for Small Businesses Recently, there has been some push for the abolition of Fringe Benefits Tax (FBT) as part of...
A Cautionary Tale in Applying for a PBR In a recent case, Progress Engineering Company Pty Ltd and Commissioner of Taxation [2020] AATA 4726, the Tribunal...
Please join MKT’s next Case Study session where we will discuss some of the key income tax and GST risks for SME property developers and...
A number of Legislative Instruments have been registered over the past week in relation to the JobKeeper extension commencing on Tuesday 29 September. This...
Congratulations to Ben B who won Round 18 of Corporate Footy Tipping Comp with a score of 9 and a margin of 1! In second...
Congratulations to Lesley Crosbie who won Round 18 of Accountants Network Footy Tipping Competition with a weekly score of 9 and a margin of 1....
Congratulations to Dave MC who won Round 17 of Corporate Footy Tipping Comp with a score of 7 and a margin of 10! In second...
Congratulations to Todd who won Round 17 of Accountants Network Footy Tipping Competition with a weekly score of 8 and a margin of 14. In...
Congratulations to Ben B who won Round 16 of Corporate Footy Tipping Comp with a score of 6 and a margin of 0! In second...
Congratulations to Golden Goals who won Round 16 of Accountants Network Footy Tipping Competition with a weekly score of 7 and a margin of 5....
Congratulations to Sam Wright who won Round 15 of Corporate Footy Tipping Comp with a score of 5 and a margin of 27! In second...
Congratulations to Lesley Crosbie who won Round 15 of Accountants Network Footy Tipping Competition with a weekly score of 5 and a margin of 26. In...
Congratulations to Ben B who won Round 14 of Corporate Footy Tipping Comp with a score of 8 and a margin of 1! In second...
Congratulations to Anna Bananna who won Round 14 of Accountants Network Footy Tipping Competition with a weekly score of 8 and a margin of nill....
Congratulations to Demon Diehard who won Round 13 of Corporate Footy Tipping Comp with a score of 9 and a margin of 17! In second...
Congratulations to Michael Pudney who won Round 13 of Accountants Network Footy Comp with a weekly score of 9 and a margin of 8. In...
Congratulations to Dave MC who won Round 12 of Corporate Footy Tipping Comp with a score of 7 and a round margin of 60! In...
Congratulations to TB who won Round 12 of Accountants Network Footy Comp with a weekly score of 8 and a margin of 67. In second...
Common, but Complex Investment and Work Related Deductions In our upcoming case study session in September 2020, we will discuss the tax treatment of some...
Congratulations to Aida T who won Round 11 of Corporate Footy Tipping Comp with a score of 8 and a round margin of 1! In...
Congratulations to Gary Day who won Round 11 of Accountants Network Footy Comp with a weekly score of 8 and a margin of 1. In second place...
Congratulations to Mighty Hawk who won Round 10 of Corporate Footy Tipping Comp with a score of 7 and a round margin of 1! In...
Congratulations to Ethton who won Round 10 of Accountants Network Footy Comp with a weekly score of 7 and a margin of 2. In second place is...
Congratulations to William Nguyen who won Round 9 of Corporate Footy Tipping Comp with a score of 9 and a round margin of 34! In...
Congratulations to Demon Diehard who won Round 9 of Accountants Network Footy Comp with a weekly score of 8 and a margin of 20. In second place...
Congratulations to Ben Reynolds who won Round 8 of Corporate Footy Tipping Comp with a score of 8 and a round margin of 2! In...
Congratulations to Ben Reynolds who won Round 8 of Accountants Network Footy Comp with a weekly score of 8 and a margin of 2. In second place...
Congratulations to Nick who won Round 7 of Corporate Footy Tipping Comp with a score of 8 and a round margin of 22! In second...
Congratulations to Here for the Beer who won Round 7 of Accountants Network Footy Comp with a weekly score of 8 and a margin of 22. In...
Congratulations to Sean Meakin who won Round 6 of Corporate Footy Tipping Comp with a score of 7 and a round margin of 41! In...
Congratulations to Di Anderson who won Round 6 of Accountants Network Footy Comp with a weekly score of 8 and a margin of 27. In second place...
Congratulations to Graeme Pickrell who won Round 5 of Accountants Network Footy Comp with a weekly score of 9 and a margin of 5. In second place...
Congratulations to Justin McGovern who won Round 5 of Corporate Footy Tipping Comp with a score of 8 and a round margin of 1! In...
Congratulations to Sergio who won Round 4 of Corporate Footy Tipping Comp with a score of 7 and a round margin of 21! In second...
Congratulations to Phillip who won Round 4 of Accountants Network Footy Comp with a weekly score of 8 and a margin of 11. In second place is...
Congratulations to Justin McGovern who won Round 3 of Corporate Footy Tipping Comp with a score of 5 and a round margin of 70! In second...
Congratulations to Japie who won Round 3 of Accountants Network Footy Comp with a weekly score of 5 and a margin of 32. In second place is...
Congratulations to Ben B who won Round 2 of Corporate Footy Tipping Comp with a score of 7 and a round margin of 15! In second...
Congratulations to Glen Crosbie who won Round 2 of Accountants Network Footy Comp with a weekly score of 6 and a margin of 10. In second place is...
The taxation of testamentary trusts and deceased estates is a complex and specialised area. A lack of understanding of the taxation issues in this area...
From Wednesday, 15 April MKT will be hosting a series of 1 hour Zoom webinars on the Cash Flow Boost and JobKeeper payments. The webinars...
Congratulations to eaglerose who won Round 1’s Accountants Network Footy Tipping Comp with a score of 8 and a round margin of 0! In second...
The Treasury Laws Amendment (Recovering Unpaid Superannuation) Bill 2019 received Royal Assent on 6 March 2020. This Amnesty provides a once off opportunity for employers...
Postponement of MKT’s PAN Conference After careful consideration and in keeping with the Government’s recommendations, we have decided to postpone this year’s PAN Conference until...
With one in three marriages ending in divorce the likelihood of advisers being involved with a number of client marriage breakdowns is almost certain. Involvement...
Just when you thought that the current Tax Reform agenda was bare, the Government recently re-introduced another measure that was previously announced by the...
The ATO’s current focus area is the small business segment. One of the issues identified as a ‘high risk’ area is small businesses not having...
Congratulations to – Jus – who won Round 23’s Corporate Footy Tipping Comp with a score of 9 and a round margin of 14! In second place...
Congratulations to Jaysen Miguel who won Round 23’s Accountants Footy Tipping Comp with a score of 9 and a round margin of 6! In second place was Joe...
Congratulations to Justin McGovern who won Round 22’s Accountants Footy Tipping Comp with a score of 8 and a round margin of 40! In second place...
Congratulations to Aida T who won Round 22’s Corporate Footy Tipping Comp with a score of 9 and a round margin of 42! In second place...
Congratulations to Mighty Hawk who won Round 21’s Corporate Footy Tipping Comp with a score of 8 and a round margin of 47! In second place...
Congratulations to Jaysen Miguel who won Round 21’s Accountants Footy Tipping Comp with a score of 9 and a round margin of 45! In second place...
Congratulations to Ben B who won Round 20’s Corporate Footy Tipping Comp with a score of 8 and a round margin of 7! In second place was Freo2Fold...
Congratulations to Hutcho who won Round 20’s Accountants Footy Tipping Comp with a score of 8 and a round margin of 9! In second place was JamesM...
Congratulations to Phillip who won Round 19’s Accountants Footy Tipping Comp with a score of 9 and a round margin of 6! In second place was George Young with...
Congratulations to Rhea who won Round 19’s Corporate Footy Tipping Comp with a score of 9 and a round margin of 17! In second place was Jamie with a...
Congratulations to Steve P who won Round 18’s Corporate Footy Tipping Comp with a score of 7 and a round margin of 16! In second place was Donny Boy with a...
Congratulations to Phillip who won Round 18’s Accountants Footy Tipping Comp with a score of 7 and a round margin of 41! In second place was Kim Wallman with a...
2019 September Case Study – Tax Concessions for Small Business Entities including Base Rate Entities
Qualifying as a Small Business Entity (SBE) enables an entity to access a range of tax, CGT and GST concessions that are not available to...
Congratulations to Brett & Liam who won Round 17’s Corporate Footy Tipping Comp with a score of 7 and a round margin of 16! In second place was – Jus...
Congratulations to The Bean Counters who won Round 17’s Accountants Footy Tipping Comp with a score of 7 and a round margin of 2! In second place was BIRDMAN with...
Congratulations to Demon Diehard who won Round 16’s Corporate Footy Tipping Comp with a score of 6 and a round margin of 37! In second place was Justin McGovern...
Congratulations to RCPetto who won Round 16’s Accountants Footy Tipping Comp with a score of 6 and a round margin of 9! In second place was Mel J with a...
Congratulations to The Bombres who won Round 15’s Corporate Footy Tipping Comp with a score of 5 and a round margin of 2! In second place was...
Congratulations to Graeme Pickrell who won Round 15’s Accountants Footy Tipping Comp with a score of 6 and a round margin of 3! In second place was The Bean...
Congratulations to Freo2Fold who won Round 14’s Corporate Footy Tipping Comp with a score of 6 and a round margin of 5! In second place was Justin...
Congratulations to The Bean Counters who won Round 14’s Accountants Footy Tipping Comp with a score of 5 and a round margin of 0! In second...
Congratulations to George who won Round 13’s Corporate Footy Tipping Comp with a score of 6 and a round margin of 1! In second place was Tommy C with...
Congratulations to Sergio who won Round 13’s Accountants Footy Tipping Comp with a score of 6 and a round margin of 7! In second place was Anna Bananna with a...
Congratulations to Justin McGovern who won Round 12’s Corporate Footy Tipping Comp with a score of 5 and a round margin of 84! In second place was Demon Diehard with a...
Congratulations to Glenn Crosbie who won Round 12’s Accountants Footy Tipping Comp with a score of 6 and a round margin of 62! In second place was Ian Moffat with a score...
Congratulations to The Rav who won Round 11’s Corporate Footy Tipping Comp with a score of 8 and a round margin of 62! In second place was Ian Moffat with a...
Congratulations to Johnathon – Everest Accounting who won Round 11’s Accountants Footy Tipping Comp with a score of 8 and a round margin of 22! In second place was JamesM with a...
Congratulations to Nic who won Round 10’s Corporate Footy Tipping Comp with a score of 8 and a round margin of 7! In second place was Jamie with a score of 8...
Congratulations to IB who won Round 10’s Accountants Footy Tipping Comp with a score of 8 and a round margin of 2! In second place was Nic with a score of 8...
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...