A recent decision by the Administrative Appeals Tribunal (AAT) should serve as a warning for any employer who employs independent contractors. In a case brought by the Tax Commissioner, a company that employs over 1000 contractors to provide interpretation and translation services is now potentially liable for superannuation guarantee payments to all of its contractors [...]

The Australian Taxation Office (ATO) has obtained data from eBay Australia and Trading Post Australia to assess the level of taxation compliance of individuals and businesses that sell goods or services online. The data identifies members of online selling sites who are involved in selling goods and services of a total value greater than $20,000 [...]

THERE’S A SENSE OF MISSED CHANCES FOR REAL REFORM AS BUSINESS LEADERS DIGEST THE GOVERNMENT’S RESPONSE TO THE HENRY TAX REVIEW. Lesley Parker INTHEBLACK, July 2010 CPA Australia As the dust starts to settle, the consensus seems to be that – mining super-profits tax aside – the federal government didn’t go far enough, fast enough [...]

CPA Australia 21 June 2010 Teachers, mechanics and engineers should make every effort to ensure they have supporting documents for their 2009 – 2010 tax claims, says CPA Australia. CPA Australia, general manager, policy and research, Paul Drum said the ATO had made it clear this year that they would be looking at these professions [...]

In a decision with far reaching implications to many taxpayers with trusts, the ATO have confirmed their tough stance on trust distributions in their final ruling on unpaid distributions to corporate beneficiaries. Along with the final ruling the ATO have also released a draft practice statement and a compendium of issues that were raised during [...]

We are excited to announce that Varcoes is merging with Sear & Marsh to become: We will MOVE on 5th July 2010 to: Suite 3, First Floor, 85-87 Charles Street, Kew, Victoria 3101 Tel: (03) 9853 7300 Fax: (03) 9853 7366 Our new Mailing Address (from 5th July 2010): PO Box 2046, Kew, Victoria 3101 [...]

We understand. Having us tell you how to prepare for the end of the financial year is a bit like your dentist telling you to floss every day or that recent advertising campaign extolling the virtues of eating an apple a day. We know we should but…So, we’re making it easy for you with these [...]

Paul Drum FCPA General Manager Policy and Research Source: CPA Australia Key announcements: Predicted to return to surplus in 2012-13 Net debt is projected to peak at 6.1 per cent of GDP The forecast Budget deficit is $40.8 billion in 2010-11 All new spending is offset, and real payments growth has been held to below two per [...]

The government’s response to proposals in the Henry review is an opportunity missed because it is too narrow in focus according to CPA Australia. ‘The Henry review represented a once-in-a-generation opportunity for comprehensive reform but what we have is a package reliant on one, albeit substantial, new tax,’ said CPA Australia CEO Alex Malley. ‘CPA [...]

On Sunday 2 May, the government publicly released the Henry tax review and its initial response. Although the Henry tax review contains recommendations to reform Australia’s tax system, the government has initially focused on the resources sector and superannuation. The company tax rate is also to be reduced and there are some benefits for small [...]