AAT Upholds ATO Decision on Shortfall Penalties for False Tax Returns Reckless Conduct Leads to Penalties for Incorrect Deductions Claimed on Amended Returns The Administrative Appeals Tribunal (‘AAT’) recently affirmed Read More…
Foreign Trust Payments: Potential Tax Liabilities for Beneficiaries Understanding When Foreign Trust Distributions Must Be Included in Assessable Income Additional tax liabilities may arise when money or assets of a Read More…
Annual NFP Self-Review Return Requirement Ensuring Income Tax Exemption Eligibility for Non-Charitable Not-for-Profits Non-charitable not-for-profits (‘NFPs’) with an active ABN, including community service organisations, need to lodge an annual NFP Read More…
Understanding the Tax Implications of Natural Disaster Relief Payments Some Government Support Payments May Be Non-Taxable — Check Before Lodging Your Tax Return Taxpayers should be aware that some natural Read More…
Annual Not For Profit Self-Review Returns Ensuring Tax Exemption Compliance for Sporting Clubs and Associations Not-for-profits (‘NFPs’), including sporting clubs, societies and associations with an active ABN, need to lodge Read More…