Tax Talks

In this episode, Andrew Henshaw will walk you through the changes to the TASA 2009 and discuss the new Dob-In Rules for tax agents with you.

There are many PSI examples in PCG 2024/D2, but all are pretty black and white.

The four PSB tests no longer protect PSI from the PSI rules. Instead, PCG 2024/D2 drags Part IVA back onto the stage.

When you look at family trusts, everything rotates around the Test Individual. They are the stick in the sand.

When you work with private clients the question of a Family Trust Election almost always comes up. But you need to be careful. A family trust election can be dangerous and cost you a lot of tax, ie. Family Trust Distribution Tax. Unlike normal income tax, the amendment periods don’t apply to Family Trust Distribution Tax, so the ATO can still hit your client decades later with FTDT. Hence, it is really important to get Family Trust Elections right.