Pilot Directions Newsletter Volume 62 March 2024

Fri Apr 05 2024

This quarter's Pilot Directions Newsletter includes a range of useful information and insights for businesses.

Bendel v Commissioner of Taxation: Are we about to see a major change to Division 7A?

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.

Digital Currency as Payment for Goods and Services

Fri Apr 05 2024

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.

Pilot bolsters leadership team with five promotions

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.

Last year to utilise carry-forward unused concessional contributions from the 2019 financial year

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.

Significant exposure to employers for underpayment of Superannuation Guarantee

Mon Feb 12 2024

Superannuation is the most heavily penalised tax obligation. Paying Superannuation Guarantee (SG) incorrectly can be costly to employers.

Employee or Contractor? It’s all in the Agreement.

Mon Feb 12 2024

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.

New Payday Super framework

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.

Pilot strengthens Corporate Advisory Services with New Director appointment

Tue Jan 23 2024

Client Case Study: Drew Group

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.

Are you paying the right tax?

Fri Dec 15 2023

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. 

Pilot Directions Newsletter Volume 61 December 2023

Thu Dec 14 2023

This quarter's Pilot Directions Newsletter includes a range of useful information and insights for businesses.