by Quinns_News | Nov 21, 2018 | Blog
The Australian Taxation Office (ATO) has released a Taxation Determination which considers the deductibility of interest expenses incurred by a beneficiary of a discretionary trust where borrowed money has been on-lent to the trust on interest-free terms. The...
by Quinns_News | Nov 14, 2018 | Blog
The Australian Taxation Office (ATO) has recently updated their website to advise and/or remind taxpayers that when they rent, hire or share their car through a ‘peer to peer’ car sharing platform (i.e., such as Car Next Door, Carhood or DriveMyCar Rentals,) they may:...
by Quinns_News | Nov 14, 2018 | Blog
A common trend throughout the workforce is the ‘permanent casual’: a casual employee who works the same roster with little to no change for an extended period of time – usually over 12 months. Although ‘permanent casual’ is not an employment type officially...
by Quinns_News | Nov 7, 2018 | Blog
This special type of trust has numerous meanings. In the UK and other parts of the world, a blind trust operates like any other trust but the beneficiary of the trust has no knowledge of what assets are kept within the trust. In Australia, a blind trust is the term...
by Quinns_News | Nov 7, 2018 | Blog
The Federal Court has in Greig v FCT held that a taxpayer was not entitled to a deduction under S.8-1 of the ITAA 1997 for share losses and legal fees. Facts On the advice of his financial advisers, the taxpayer (Mr Greig) spent many millions of dollars on share...
