As 31 March is fast approaching, it is timely to commence preparations to complete and lodge your FBT return for year end 31 March 2022.
Ali Suleyman, Elena Bogomolova and Gary Matthews, will provide a general overview of key FBT areas and cover a number of recent developments as well as other important issues relevant to preparation of the FBT return.
The ATO has released a package of guidance materials (“Guidance”) targeting trust distributions under section 100A. The ATO outline that they could seek to apply section 100A where tax benefits are being obtained from arrangements in connection with such distributions.
The ATO has revised its view regarding unpaid present entitlements (“UPEs”) for Division 7A purposes that has been in effect since 16 December 2009. For UPEs arising on or after 1 July 2022, TR 2010/3 and PS LA 2010/4 will be withdrawn with the consequence that interest-only complying sub-trust arrangements will no longer be accepted.
Four years after suspending their guidelines relating to the allocation of profits of professional firms, the Australian Taxation Office (“ATO”) released PCG 2021/4 (“Guidelines”) setting out its revised compliance approach.
The ATO has published Practical Compliance Guideline PCG 2021/5 (“the PCG”) setting out its compliance approach in relation to the imported hybrid mismatch rules.
The 2020-21 Federal Budget introduced a temporary loss carry back regime in response to the COVID-19 pandemic. The rules allow for corporate tax entities to carry back tax losses from the 2019-20, 2020-21 and 2021-22 years as far back as the 2018-19 income year to generate refundable tax offsets. Pursuant to the 2021-22 Federal Budget […]
Hugh has over 35 years of experience in chartered accounting and specialises in superannuation, retirement and estate planning, administration of self-managed funds and business investment and structuring. His experience spans a range of clients including investors, medical and health care specialists, property and construction and professional practices. Hugh utilises his strong relationships with lawyers, actuaries […]
Greg has provided advisory services to privately-owned businesses, not-for-profit organisations, investors and family groups for more than 18 years. He specialises in providing advice on corporate governance, finance function improvements, obtaining grants and government support, strategic planning and structuring, due diligence engagements and accounting and tax compliance. Throughout his years of service Greg has developed […]
Ankit is a longstanding member of the Pitcher Partners family, having been with the firm since 2008. He takes a holistic approach to delivering on client’s need, balancing technical expertise, simplicity and commerciality. With a client portfolio that includes executives, investors, professional services partners, high-net-worth groups, and family offices, Ankit has the expertise to navigate […]
Having worked in the advisory space on accounting and tax issues for private family groups, SMEs, business subsidiaries of multinationals, and trusts, Linda has a multi-faceted understanding of the middle market. Harnessing a personable and proactive approach to client service, Linda strongly values open and honest communication to build strong longstanding client relationships. She truly […]
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