Fri Apr 05 2024
For roughly 13 years, the Australian Taxation Office (ATO) has acted on the basis that unpaid trust distributions to corporate beneficiaries are considered “financial accommodation” provided to the trust, and therefore are subject to taxation under Division 7A of the Income Tax Assessment Act 1936. A recent decision in the Administrative Appeals Tribunal (AAT) in Bendel v FCT [2023] AATA 3074 (Bendel) has turned this interpretation on its head.
If your business makes a taxable supply (sale) where digital currency is received as payment, you must record and pay the GST amount on your BAS in Australian dollars.
Fri Mar 15 2024
Pilot Partners is delighted to announce the appointment of several senior promotions within Pilot, effective 1 March. We are proud to recognise our exceptional staff, and further strengthen Pilot’s capabilities to support the continued growth of the firm.
Wed Feb 28 2024
The opportunity to catch up unutilised superannuation contributions from the 2019 financial year expires on 30 June 2024. Eligible individuals should consider and plan for this opportunity now before it is lost forever.
Mon Feb 12 2024
Superannuation is the most heavily penalised tax obligation. Paying Superannuation Guarantee (SG) incorrectly can be costly to employers.
Do you have written employment agreements in place for all workers? The contract details are now more important than ever to determine whether workers are employees or contractors.
Fri Feb 09 2024
The payday super announced by the government means that from 1 July 2026, employers are required to pay their employees’ super at the same time as their salary and wages.
Tue Jan 23 2024
Pilot Partners is thrilled to announce the newest addition to its leadership team, Dan Hastings, who assumes the role of Director in the Corporate Advisory team.
Fri Dec 15 2023
When formulating and evaluating business decisions that will influence the future direction of a company, there are a number of considerations and bases to cover to ensure informed decision making.Businesses experiencing growth often require specialist advisors to assist them in their transition from a smaller organisation into a larger firm.
Businesses should take note of the recent findings from the ATO Top 1000 report, as even the largest public and multinational groups are being caught out by the growing number of review programs in play.
Thu Dec 14 2023
This quarter's Pilot Directions Newsletter includes a range of useful information and insights for businesses.
As a part of the Federal government’s mid-year economic and fiscal outlook (MYEFO) announced yesterday, the Treasurer has announced that interest on late payments of taxes will not be tax deductible from 1 July 2025.
Stay updated with our tailored newsletters and alerts. Explore insights on accounting issues affecting your business and industries, along with firm updates.
Please provide your details and select the areas that interest you most below.