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How much can a taxpayer rely on a tax agent?

In this article, we further discuss the burden of proof for the taxpayer at the AAT. We consider aspects of the WYVW decision including penalties, the safe harbour provisions and the level of care expected of directors when engaging a tax agent.

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Does Bendel’s case highlight broader cracks in the tax system?

The recent decision in Bendel’s Case has caused more than a ripple in income tax circles. There are numerous case summaries and commentary about what the decision might mean for the application of Division 7A. This case, in our view, represents a symptom of a bigger issue in relation to the way tax is being administered.

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Could Division 7A apply to non-related party loans?

Most practitioners are familiar with Division 7A integrity measures. However, the breadth of when an entity qualifies as an associate of a trust may, in some instances, cause non-related party loans be within the scope of Division 7A. This article explores the concept of associate for a trust.

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Welcoming Neil Jones to Webb Martin Consulting

Webb Martin Consulting is excited to announce that Neil Jones will be joining us as a consultant. Neil brings with him a wealth of experience with over 40 years in the tax industry. Having Neil on board provides us with added depth and experience to draw from when advising clients.

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BREPI and an Equipment Leasing Company

Is a company that carried on an active equipment leasing business, with a turnover under $50 million, considered a base rate entity and therefore eligible for the lower corporate tax rate? Determining this mainly revolved around whether its base rate entity passive income was more than 80% of its assessable income for the year. Read on for more details.

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