February 1, 2023 | MGI Parkinson

Time Limits on Indirect Tax Assessments

As we begin another eventful year, it is worth noting that there are specific time limits unique to the application of indirect taxes. Specific provisions were inserted into the Tax Administration Act (TAA) to reflect the distinctive nature of the indirect tax laws. The assessment system for indirect tax laws introduces a new generic assessment […]

The Hidden Trap of Private Company Loan Repayments

If you operate a private company you would have heard of Division 7A and how it applies to loans from private companies. Section 109R in Division 7A is an integrity measure aimed at targeting ‘non-genuine loan repayments’. In summary, a repayment must be disregarded if a “reasonable person” would conclude that when the repayment was […]

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