Directors get a message

Article Abstract:

Tax commissioner Michael Carmody's campaign asking the corporate directors to lift their companies' standards with regard to their tax affairs has made the directors review their standards, despite the fact that the standards of the Australian Taxation Office are much worse when compared to the corporate standards. The executives believe that this campaign encourages the boards to re think about their position in the tax-risk spectrum.

Taxes, Venture Analysis, Taxation, Corporate taxes, Beliefs, opinions and attitudes, Business enterprises, Tax policy, Carmody, Michael

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A matter of trust: testamentary trusts can be arranged to protect assets that might otherwise be lost in a crisis

Article Abstract:

The advantages of testamentary trusts, to protect the family wealth from possible future claims by corporate regulators, creditors, and litigants seeking damages for professional negligence, are presented. The testamentary trust is provided for a will and comes into existence upon the benefactor's death.

Testamentary trusts

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Contractor's big test. In the shadow of the Hart case, the tax office is chasing another rich price

Article Abstract:

The Australian Tax Office (ATO) loses tens of millions of dollars a year in revenue, by the splitting of income, by family members using a company or trust under the provision of Part IVA of the Tax Act.

Public Finance Activities, Legal issues & crime, Strategy & planning, Personal Income Taxes, Legal/Government Regulation, Planning, Company legal issue, Cases, Investigations, Computer programmers, Executives, Personal income tax, Company business planning, Home equity loans, Software developers (Individuals), Hart, Richard, Hart, Trudy

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