The ATO has today announced that they will investigate close to 46,000 businesses who they suspect may be underreporting their income or involved in some form of tax evasion. It is important to that if you have been involved in these activities to make sure you consult an appropriately qualified professional to handle your case. [...]
Monthly article archives: March 2011
Testamentary Trusts and Estate Planning
A testamentary trust is a trust created under a will. It can be one or more trusts created when as a result of a deceased estate. There are many advantages of using a testamentary trust including asset protection protection of assets for children until they are capable of managing those assets tax planning opportunities Asset [...]
Tax Crime and the ATO Response
The ATO has recently released the fourth issue of it’s “Targeting tax crime – a whole of government approach” . Project Wickenby is an initiative by the ATO to identify tax crime and ensure that the government identifies those individuals associated with committing tax crime. The principal partner of Omega Partners has assisted a number [...]