ATO actions on trusts

ATO actions on trusts

The ATO says that it recognises that most trusts are used appropriately and for legitimate purposes. It says it will continue to help those who make genuine mistakes or are uncertain about how the law applies to their circumstances. But even so, the ATO has a number...
Taxing Australia – 2019 Election

Taxing Australia – 2019 Election

There is only a short time before the Federal Election on 18 May 2019, and there’s a lot of wild speculation and “fake news” in the media. We’re not trying to recommend whom you should vote for, but instead, we believe that it is vital that our clients understand how...
Taxation statistics 2016-2017

Taxation statistics 2016-2017

Who doesn’t love a good statistic? It’s even better when they are taxation statistics. Each year the Australian Tax Office publishes an annual report on taxation statistics that provide valuable information about the financial state of our country. The...
Boost to instant asset write-off

Boost to instant asset write-off

The budget’s boost to instant asset write-off is now law Federal Budget night announced an increase in the instant asset threshold, and also an extension of which businesses could access the measure. Now the Treasury Laws Amendment (Increasing and Extending the...
Superannuation Guarantee Amnesty

Superannuation Guarantee Amnesty

At Precision, the issue of unpaid superannuation is an issue that we are very passionate about. We have covered this problem on many occasions and now there is another turn with the proposed SG Amnesty failing to pass into law. This failure of the Superannuation...