ATO’s new crackdown on Discretionary Trusts
The ATO has just updated its guidance around trust distributions made to adult children,
corporate beneficiaries and entities that are carrying losses. Depending on the structure of these
arrangements, there is a potential that the ATO may take an unfavourable view on what were previously
understood to be legitimate arrangements.
Ridesharing: The Driver
Uber and other ride-sourcing facilitators have become increasingly popular over recent years. From a
driver’s standpoint, there are a number of tax issues potentially in play. See overleaf for the tax implications from a rider’s perspective.
Employee allowances
Do your employees travel for work? The ATO has issued new guidance to help employers determine whether to pay employees a travel allowance or a living-away-from-home allowance (LAFHA).
Cashflow forecasts
Now more than ever businesses should consider preparing cashflow
forecasts.
e-bikes, FBT, and salary sacrificing
Entering into a remuneration package to secure a vehicle through a salary sacrifice arrangement is a popular option offered to employees. However the ATO has issued a ruling on another particular set of wheels that opens up both a tax and health incentive.
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