Tax Insights
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84,000 Director Penalty Notices in One Year
84,000 Director Penalty Notices in One Year What accountants and their clients need to understand now In the 2024–25 financial year, the ATO issued more than 84,000 Director Penalty Notices…
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One Company Doing Everything? Why Australian Directors Should Revisit Their Business Structure Now
One Company Doing Everything? Why Australian Directors Should Revisit Their Business Structure Now Separating trading, assets, employees and IP — and why the new 30 per cent minimum tax on…
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All About the ATO General Interest Charge
All About the ATO General Interest Charge If you have a tax debt, the ATO charges interest on it. That interest is the General Interest Charge, or GIC. It is…
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The Risks of Illegal Phoenix Activity
The Risks of Illegal Phoenix Activity When a Director with ATO Debt Wants a “Fresh Start” It is one of the most common conversations an insolvency adviser has. A director’s…
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Division 7A Director Loans
Division 7A Director Loans There is a line on the balance sheet of most small private companies that nobody wants to talk about. It is usually labelled “Loan – Director”…
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“I Resigned, So It’s Not My Problem” – Why a director’s resignation won’t save you from outstanding tax debt.
“I Resigned, So It’s Not My Problem” – Why a director’s resignation won’t save you from outstanding tax debt. It comes up in almost every conversation I have about ATO…