Tax relief

Article Abstract:

A recent Federal Court judgment has given small-business owners some help by allowing personal tax deductions for a tax agent's charges, which can be claimed up to 48.5% rather than at the 30% corporate rate. The court states that it is the responsibility of the management to give the public professional advice regarding group tax or prescribed payments tax.

Australia, Tax Deductions & Exemptions, Taxes, Small Business, Tax deductions, Powers and duties, SOHO, Australia. Federal Court of Australia

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Busy accountants discard their difficult clients

Article Abstract:

The advent of Australia's goods and services tax (GST) has forced many overworked accountants to abandon their small business clients. Such clients are described by Mike Bannon, a partner of Canberra-based accountancy firm Duesburys, as orphans who may have to tackle the official paper work that accompanies GST on their own.

Corporate Tax Administration, Management, Corporate taxes, Tax administration, Accounting firms, Accounting services, Consumer goods

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More debate needed on Option 2

Article Abstract:

Some Australian tax experts have suggested the new Option 2 taxation system may be introduced before it has been properly evaluated. They have suggested an additional 36 months is required to fully test the new tax system.

Tax Law, Interpretation and construction, Tax consultants, Beliefs, opinions and attitudes, Tax reform, Tax policy

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