The Billion Dollar TikTok Scandal $1.7 billion paid out in fraudulent refunds, another $2.7bn in fraudulent claims stopped, around 56,000 alleged perpetrators and over 100 arrests to date. How did the TikTok tax scandal get out of control? “Everyone else got refunds, it’s OK, it’s just a temporary loan [from the ATO].” TikTok social influencer
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SEPTEMBER 23 NEWS UPDATE Click here for PDF The Billion Dollar TikTok Scandal $1.7 billion paid out in fraudulent refunds, another $2.7bn in fraudulent claims stopped, around 56,000 alleged perpetrators and over 100 arrests to date. How did the TikTok tax scandal get out of control? “Everyone else got refunds, it’s OK, it’s just a
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AUGUST 23 NEWS UPDATE Click here for PDF Why is my tax refund so small? The tax refund many Australians expect has dramatically reduced. We show you why. There is a psychology to tax refunds that successive Governments have been reticent to tamper with. As a nation, Australia relies heavily on personal and corporate
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The tax implications and pitfalls of small-scale subdivisions You’ve got a block of land that’s perfect for a subdivision. The details have all been worked out with Council, the builders, and the bank. But, one important aspect has been left out; the tax implications. Many small-scale developers often assume that their tax exposure is minimal
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Succession: What does it take to hand your business to the next generation? What is the end game for your business? Succession is not just a topic for a TV series or billionaire families, it’s about successfully transitioning your business and maximising its capital value for you, the owners. When it comes to generational succession
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The tax refund many Australians expect has dramatically reduced. We show you why. There is a psychology to tax refunds that successive Governments have been reticent to tamper with. As a nation, Australia relies heavily on personal and corporate income tax, with personal income tax including taxes on capital gains representing 40% of revenue compared
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Tax Savings For the Taking! It’s that time of year when we all look at what last minute things we can do to maximise tax savings. In the wise words of the late Kerry Packer to a Senate estimates committee, “Of course I am minimising my tax. And if anybody in this country doesn’t minimise
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JUNE 23 NEWS UPDATE Click here for PDF Tax Savings For the Taking! It’s that time of year when we all look at what last minute things we can do to maximise tax savings. In the wise words of the late Kerry Packer to a Senate estimates committee, “Of course I am minimising my tax.
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View PDF: Budget 2023-24 ‘Ace in the Hole’ Budget 2023-24 The ‘ace in the hole’ of the 2023-24 Federal Budget was the $4.2bn surplus; the first in 15 years. The surplus was driven by a surge in the corporate and individual tax take. High commodity prices, inflation, and high employment have all pushed up corporate
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NEWS UPDATE MAY 2023 Click here for PDF $20k Small Business Energy Incentive In a pre-Budget announcement, the Government has committed to a Small Business Energy Incentive Scheme that offers a bonus tax deduction of up to $20,000. The Small Business Energy Incentive encourages small and medium businesses with an aggregated turnover of less than
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