Personal Income Tax

Inaccurate returns? The ATO Can Increase or Reduce Its Penalties

Officially, the Australian Tax Office (ATO) can choose to respond to income reporting mistakes with increased financial penalty. This will apply where the taxpayer hinders the ATO, but as this article will explain, there are five specific situations where you might be vulnerable to increased penalties, but may be able to “catch a break” for a reduced base penalty.

Are GST Changes Viable Tax Reforms?

Taxpayers in Australia have contributed to the much debated and anticipated Tax Reform White Paper, prepared by the government.

Home Appliances: Should You Rent or Buy?

Most people love to get a bargain, but not all bargains are what they promise to be and it is best to wide awake when considering a bargain.  Sometimes a bargain is anything but, as you will discover in the following discussion…

Protecting Your Exposed Assets

There is no such thing as absolute asset protection.  However, more and more people are seeing the importance of putting a sound asset protection plan in place, to protect professionals, entrepreneurs and small business owners from the risk of losing their assets to creditors and other claimants that may arise.  Essentially, asset protection is a legally permissible strategy to safe-guard your hard-earned assets in the unfortunate event of financial disaster.

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02
Feb2015

Welcome to my blog

Welcome to my blog

02
Nov2016

Qualifications

Recently somebody asked me how many qualifications and post nominals I had. I replied that I don’t know – I’ve lost trac...

02
Nov2016

Ben, Have you invented any new words lately?

A correspondent has asked if I have invented any new words. Indeed I have. Procreastation: The tendency to put off doing...

02
Nov2016

Ben, what is the greatest waste of taxpayers money?

Thank you for asking this important question. The greatest waste of taxpayers money in history is without doubt the new...

02
Nov2016

Ben, What is the Mac tax? Is it federal or state?

Thank you for that interesting question. The Mac tax is a tax that is imposed neither by the federal nor the state gover...