Search results

Accountant? Solicitor? doesn't really matter because the only one the ATO is going to come after (with their penalties, interest and years of back tax) is the taxpayer

Thank you JRC and Ozpert for your contributions and balance. I would just like to add something for Accountants here. I have read a few HDT deeds but as I am not a solicitor should not comment on them, I thought. One in particular to me seemed to fall foul of PBR 65710. So I rang the...

The reason I said that you have got to ask yourself why you entered into a HDT in the first place is because the ruling, in MHO, says that if the deed gives you the flexibility to return some benefit to someone else other than the unit holder (including the ability to redeem units at less than...

From TD 2009/17 Ruling 1. No. Interest on a loan used to settle moneys on trust to benefit the borrower and others cannot be deducted in full under section 8-1 of the Income Tax Assessment Act 1997 (ITAA 1997). 2. The taxpayer's interest expense can only be deducted to the extent to...

If C&N say their PIT is ok with the ATO why haven't they got a product ruling to prove it or at least a PBR

Re XYZ accoutants, when you lodge a trust tax return you have to answer a question on whether it is a hybrid or not! thanks Piston Broke September API will have an article on Hybrids

Ebbie, If you think your hybrid is not caught by the ATO's ruling then you need to ask yourself why did you choose to use a hybrid. I don't feel the ATO have been dragging their feet. They issued TR 95/33 14 years ago.

It is not a question of what you actually do it is a question of what the deed could allow you to do

TD 2009/17...