Babbage & Co - Latest News and Press

30 December, 2019

Better Protection For Consumers: New ASIC Powers

[column width=”1/1″ last=”true” title=”” title_type=”single” animation=”none” implicit=”true”] While the Banking and Financial Services Royal Commission seems long ago in the minds of many, the people that have been financially affected […]

22 December, 2019

Reportable Tax Position Expansion Stalled

[column width=”1/1″ last=”true” title=”” title_type=”single” animation=”none” implicit=”true”] The expansion of the Reportable Tax Position (RTP) schedule to large private companies and corporate tax groups have been shelved by the Tax […]

18 December, 2019

SMSF Sole Purpose Test And Fractional Investments

[column width=”1/1″ last=”true” title=”” title_type=”single” animation=”none” implicit=”true”] To be eligible for superannuation fund tax concessions, SMSFs are required to be maintained for the sole purpose of providing retirement benefits to […]

16 December, 2019

$10,000 Cash Payment Limit: The Facts

[column width=”1/1″ last=”true” title=”” title_type=”single” animation=”none” implicit=”true”] To combat the use of cash in black economy activities, the government has introduced a law which will implement an economy-wide cash payment […]

11 December, 2019

Super Guarantee Opt-Out For High Income Earners

[column width=”1/1″ last=”true” title=”” title_type=”single” animation=”none” implicit=”true”] Under the superannuation guarantee framework, employers are required to contribute a minimum percentage (currently 9.5%) of their employee’s ordinary time earnings into superannuation. […]

9 December, 2019

ATO Debts To Affect Your Credit Rating

[column width=”1/1″ last=”true” title=”” title_type=”single” animation=”none” implicit=”true”] The ATO now has another “stick” in its arsenal to get businesses to engage with it and manage outstanding tax debts. Laws have […]

3 December, 2019

Less Tax For Some Working Holiday Makers?

[column width=”1/1″ last=”true” title=”” title_type=”single” animation=”none” implicit=”true”] In a decision that was hailed by various media outlets as monumental, the Federal Court’s decision that a backpacker would not have to […]

1 December, 2019

Trusts Avoiding CGT Alert

[column width=”1/1″ last=”true” title=”” title_type=”single” animation=”none” implicit=”true”] The ATO recently issued an alert on its concerns over trusts avoiding CGT by exploiting restructure rollovers. Specifically, it is actively reviewing arrangements […]