Notes Online

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Disclaimer
These notes are intended to be a guide only. None of the comments contained in these seminar notes are intended to be advice, whether legal, financial or professional. You should not act solely on the basis of the information contained in these notes because many aspects of the material have been generalised and the tax laws apply differently to different people in different circumstances. Further, as tax and related laws change frequently, there may have been changes to the law since the notes were written. Specific advice should always be obtained from a tax professional.

Document Type

Publication

Pages

226

Published

July 26, 2021

Notes Online Home 2021 Tax Schools Day 2

This publication, as a whole, is available in HARDCOPY only.

 These seminar notes cover the following topics:

  • What’s new for business in 2021?
  • Major development for PSI and contractors in the 2021 income year
  • Key developments for trusts in the 2021 income year
  • Advanced year-end planning strategies for small businesses
  • Who’s in the ATO’s audit ‘firing line’ in the 2021 year?

Chapters and Articles in 2021 Tax Schools Day 2

Dealing with SBE eligibility rules for business clients

Advanced tax planning with depreciation claims for SBE taxpayers

Checklist of the key year-end planning strategies for SBE taxpayers

Case study highlights massive tax savings for an SBE taxpayer in the 2021 year

Recent decision highlights pitfalls with trust distribution after an ATO audit adjustment

NTAA guide to the tips and traps with making trust resolutions and distributing trust income

New ATO ruling examines the application of the PSI rules to contractors

Recent decision confirms major ‘backflip’ with the PSI rules and the IT industry

Update on applying the PSI rules for clients in the medical industry

Recent decision highlights Super Guarantee pitfalls for doctors engaged as contractors

Setback for discretionary trusts distributing capital gains to non-resident beneficiaries

The AAT highlights the perils of beneficiaries claiming deductions against trust income

Government introduces new temporary depreciation concessions for SBE taxpayers

New depreciation concessions introduced for medium and larger-sized businesses

Major changes to business tax returns in the 2021 income year

ATO releases long awaited Ruling on the taxation of professionals

Update on the Single Touch Payroll measures for family businesses

Recording and paying stimulis payments (e.g., JobKeeper) from companies and trusts

Taxpayer’s win in significant test case paves the way for more JobKeeper claims

AAT confirms massive tax bills for taxpayers operating in cash-based industries

Recent decision highlights perils of ‘mum and dad’ partnerships

ATO announces audit taskforce for small businesses