Anna Rosemarie

New Administrative Review Tribunal (ART)

October 15, 2024 The new Administrative Review Tribunal (ART) replaces the Administrative Appeals Tribunal (AAT). It began its operations on the 14th October 2024. The Government is promoting the new Tribunal as ‘user-focused, accessible, independent and fair’. Changes include: more resources for dealing with matters efficiently; consideration to be given to accessibility and user needsContinueContinue reading “New Administrative Review Tribunal (ART)”

Tax Payer Alert: Early Stage Investor Tax Offset Unlawfully Claimed

January 15, 2025 The Australian Taxation Office (ATO) has issued a tax payer alert in response to a new tax avoidance scheme being promoted in the community. Main points of the scheme as stated by the ATO are: An investment opportunity in a start-up company is promoted to individuals by the scheme operators; Investors toldContinueContinue reading “Tax Payer Alert: Early Stage Investor Tax Offset Unlawfully Claimed”

Division 7A Tax Risks: ATO’s New Review Process

January 16, 2025 The Australian Taxation Office (ATO) are currently reviewing arrangements that may incorrectly avoid the application of Division 7A to lending arrangements. For example: A trading company guarantees a third party loan to a company related to the trading company (that has little or no distributable surplus); The related company gives or loansContinueContinue reading “Division 7A Tax Risks: ATO’s New Review Process”

Tax Payer Alert: Early Stage Investor Tax Offset Unlawfully Claimed

The Australian Taxation Office (ATO) has issued a tax payer alert in response to a new tax avoidance scheme being promoted in the community. Main points of the scheme as stated by the ATO are: An investment opportunity in a start-up company is promoted to individuals by the scheme operators; Investors told the start-up qualifiesContinueContinue reading “Tax Payer Alert: Early Stage Investor Tax Offset Unlawfully Claimed”

Division 7A – Taxpayer Alert Issued for Third-Party Loan Arrangements

The Australian Taxation Office (ATO) are currently reviewing arrangements that may incorrectly avoid the application of Division 7A to lending arrangements. For example: A trading company guarantees a third party loan to a company related to the trading company (that has little or no distributable surplus); The related company gives or loans amounts from theContinueContinue reading “Division 7A – Taxpayer Alert Issued for Third-Party Loan Arrangements”