Trusts, specifically discretionary trusts, have long been the favored investment vehicle for families. They provide flexibility, asset protection, succession planning and taxation benefits. With the ATO’s recently announced updated interpretation of the law, the taxation benefits risk being eroded. Background Trustees of discretionary trusts regularly resolve to make certain beneficiaries
Cryptocurrency is now under the ATO’s spotlight due to a surge in new investors during the pandemic. It is easy to get caught up in the digital gold rush and find yourself a bit lost at tax time. ATO records show that over 600,000 Australian taxpayers have invested in cryptocurrency, with
Scammers are calling people and telling them that their Tax File Number (TFN) has been suspended. The Australian Taxation Office (ATO) do not suspend TFNs and will never request that you pay a fine or transfer money to protect your TFN pending legal action. Scammers are advising people that to have
