Resources

Managing Risks in the Allocation of Professional Services Firm Profits – Part 2

In our first article we discussed how the ATO are again taking aim at how Professional Services Firms allocate their profits to the owners (Principals) with the announcement late last year that they will start contacting Professional Service Firms to “assist” them in managing those risks.

TR 2023/1: Residency Tests For Individuals Released

Determining tax residency of an individual is complex and based on a largely subjective interpretation by the Commissioner and the courts’ application of the statutory tests for residency of individuals as set out in subsection 6(1) of the Income Tax Assessment Act 1936.

Division 7A, Distributable Surplus and the meaning of ‘Net Assets’

Working out a company’s distributable surplus is a vital element of Division 7A as the extent to which a deemed dividend is assessable is limited to the distributable surplus amount.

2023 SMSF Source Document Checklist

Guide to funding business growth

Learn about the different ways to fund a growing business.

Corporate Fraud in Australia Report

Creating a high growth sustainable business guide

An ultimate guide to successful, proven business growth strategies.

Business valuation guide

Read our top tips on how to determine the current value of your business and how to maximise this.

Key financial ratios guide

Get the right financial insights to assess the true performance of your business