arpadvisory

[arpadvisory]

Daily writing promptDo you practice religion?View all responses Yes, absolutely. It’s an integral part of our lives, our guiding light.

[arpadvisory]

Anzac Biscuits half-dipped in Chocolate (WF) (V) (Pack of 24)

24 delicious Anzac Biscuits. We make all of our products fresh. Keep refrigerated. Ingredients : Oats Desiccated Coconut Golden Syrup Vegan Margarine Sugar Baking Soda Cornflour Gluten Free Flour Xanthan Gum Chocolate (cacao butter, cocoa powder, maple syrup, vanilla extract)  

[arpadvisory]

Dominguez, t/as Jim’s Cleaning Ambarvale v Jim’s Group Pty Ltd t/as Jim’s Group Pty Ltd [2023] NSWSC 913 (4 August 2023)

August 15, 2023 Hearing Date: 20 March 2023 Date of Orders: 04 August 2023 Category: Principal Judgment Parties:Miguel Dominguez, t/as Jim’s Cleaning Ambarvale (Plaintiff)Jim’s Group Pty Ltd t/as Jim’s Group Pty Ltd (Defendant) This matter essentially concerns a disgruntled franchisee who brought a Statement of Claim against their Franchisor, claiming  an amount of $20,000,000.00 for loss…

[arpadvisory]

Australian Taxation Office (ATO): Operation Protego Enforcement Action

September 11, 2023 The Australian Taxation Office’s ‘Operation Protego’ was established to combat GST fraud activity. Mr Justin McCormick, from Perth WA has been sentenced in Perth District Court to two year’s imprisonment (parole after 21 months) after he was found to have obtained almost $110,000 in fraudulent GST funds contrary to s134.2 of the Criminal Code (Cth). Conditions of release…

[arpadvisory]

Electronic Sales Suppression Tools

The Australian Taxation Office (ATO) Serious Financial Crime Taskforce (SFCT) is warning businesses about the supply and usage of Electronic Sales Suppression Tools (ESST’s). ESST software is used to under-report taxable income and to avoid paying tax. It can be connected to a point-of-sale (POS) system and can delete or reconfigure transactions. It also has the ability to produce fake tax…

[arpadvisory]

Vanderstock & Anor v State of Victoria [2023] HCA 30

October 25, 2023 In a High Court landmark decision (4:3 majority), it was ruled that the Zero and Low Emission Vehicle Distance-based Charge Act 2021 (Vic) (“ZLEV Act”) as a duty of excise within the meaning of s90 of the Constitution, and therefore invalid as it was unconstitutional, as only the commonwealth has this taxing power. In the Court’s summary, reference is made to the conclusion…

[arpadvisory]

Tax Rates 2023-24 and 2024-25 (Australian Residents)

June 17, 2024 Austrlaian resident tax rates in Australia for the 2023-24 and 2024-25 financial years are as follows: Taxable incomeTax on this income0 – $18,200Nil$18,201 – $45,00016c for each $1 over $18,200$45,001 – $135,000$4,288 plus 30c for each $1 over $45,000$135,001 – $190,000$31,288 plus 37c for each $1 over $135,000$190,001 and over$51,638 plus 45c for each $1 over $190,000 The above…

[arpadvisory]

Do you have a Loan from a Private Company (Including Your Own)?

June 17, 2024 If you have an outstanding loan from a private company at the time of the company’s lodgement date, you will need a complying Division 7A loan agreement to be in place. The agreement needs to set out the minimum yearly payments required, made up of principal and interest. Payments need to commence in the income year after the loan is made. If there is no loan agreement or a…

[arpadvisory]

New Administrative Review Tribunal (ART)

October 15, 2024 The new Administrative Review Tribunal (ART) replaces the Administrative Appeals Tribunal (AAT). It began its operations on the 14th October 2024. The Government is promoting the new Tribunal as ‘user-focused, accessible, independent and fair’. Changes include: more resources for dealing with matters efficiently; consideration to be given to accessibility and user needs in…

[arpadvisory]

Tax Payer Alert: Early Stage Investor Tax Offset Unlawfully Claimed

January 15, 2025 The Australian Taxation Office (ATO) has issued a tax payer alert in response to a new tax avoidance scheme being promoted in the community. Main points of the scheme as stated by the ATO are: An investment opportunity in a start-up company is promoted to individuals by the scheme operators; Investors told the start-up qualifies for early stage investor tax offset as it is an…

[arpadvisory]

Division 7A Tax Risks: ATO’s New Review Process

January 16, 2025 The Australian Taxation Office (ATO) are currently reviewing arrangements that may incorrectly avoid the application of Division 7A to lending arrangements. For example: A trading company guarantees a third party loan to a company related to the trading company (that has little or no distributable surplus); The related company gives or loans amounts from the loan funds to…

[arpadvisory]

Tax Payer Alert: Early Stage Investor Tax Offset Unlawfully Claimed

The Australian Taxation Office (ATO) has issued a tax payer alert in response to a new tax avoidance scheme being promoted in the community. Main points of the scheme as stated by the ATO are: An investment opportunity in a start-up company is promoted to individuals by the scheme operators; Investors told the start-up qualifies for early stage investor tax offset as it is an ‘Early Stage…

[arpadvisory]

Division 7A - Taxpayer Alert Issued for Third-Party Loan Arrangements

The Australian Taxation Office (ATO) are currently reviewing arrangements that may incorrectly avoid the application of Division 7A to lending arrangements. For example: A trading company guarantees a third party loan to a company related to the trading company (that has little or no distributable surplus); The related company gives or loans amounts from the loan funds to shareholders of the…

[arpadvisory]

Division 7A Tax Risks: ATO's New Review Process

The Australian Taxation Office (ATO) are currently reviewing arrangements that may incorrectly avoid the application of Division 7A to lending arrangements. For example: A trading company guarantees a third party loan to a company related to the trading company (that has little or no distributable surplus); The related company gives or loans amounts from the loan funds to shareholders of the…

[arpadvisory]

Tax Payer Alert: Early Stage Investor Tax Offset Unlawfully Claimed

The Australian Taxation Office (ATO) has issued a tax payer alert in response to a new tax avoidance scheme being promoted in the community. Main points of the scheme as stated by the ATO are: An investment opportunity in a start-up company is promoted to individuals by the scheme operators; Investors told the start-up qualifies for early stage investor tax offset as it is an ‘Early Stage…

[arpadvisory]

New Administrative Review Tribunal (ART)

The new Administrative Review Tribunal (ART) replaces the Administrative Appeals Tribunal (AAT). It began its operations on the 14th October 2024. The Government is promoting the new Tribunal as ‘user-focused, accessible, independent and fair’. Changes include: more resources for dealing with matters efficiently; consideration to be given to accessibility and user needs in…

[arpadvisory]

Do you have a Loan from a Private Company (Including Your Own)?

If you have an outstanding loan from a private company at the time of the company’s lodgement date, you will need a complying Division 7A loan agreement to be in place. The agreement needs to set out the minimum yearly payments required, made up of principal and interest. Payments need to commence in the income year after the loan is made. If there is no loan agreement or a shortfall in the…