General Tax Knowledge

Losses
Applying PRIOR YEAR LOSS Company Tax Return Individual Tax Return SMSFAR Trust Tax Return Carried Forward Loss Company Tax Return Individual Tax Retu...
Tue, 10 Nov, 2020 at 10:40 AM
Minutes of Trustee Resolution
Minutes should be prepared before 30 June. Check this related link from ATO
Wed, 8 Jul, 2020 at 11:55 AM
Cash vs Accrual Reporting in Tax Forms
The correct approach is using "Accrual" rather than "Cash", this is based on the tax form design/instruction perspective. This can be ve...
Mon, 17 Aug, 2020 at 8:54 AM
Flow-through of Dividends from Company via Trust to Human Beneficiary
Company has a profit of $100, pays tax of $27.5, then pays a full dividend of $72.50 that reduces retained earnings to zero  with franking credit of $27.5 b...
Tue, 1 Sep, 2020 at 10:42 AM
Flow-through of Dividends from Company via Trust to Company Beneficiary
Company has a profit of $100, pays tax of $27.5, then pays a full dividend of $72.50 that reduces retained earnings to zero  with franking credit of $27.5 b...
Tue, 1 Sep, 2020 at 12:39 PM
Depreciation Rules - 2019 to 2022
We are sharing 3 tables summarising all the 2020 to 2022 business stimulus incentives available for plant & equipment purchases for small, medium and la...
Tue, 10 Nov, 2020 at 11:08 AM
Loss carry-back for companies
Note: It is necessary to visit the Reconciliation TAB and manually insert the losses you want to apply against current year profits. Loss carry-back a...
Thu, 3 Dec, 2020 at 11:49 AM