A final interesting point relates to whether business real property can be contributed to an SMSF where that contribution is made under the small business CGT concessions. In particular, whether the retirement exemption under Subdiv 152-D ITAA97 which allows a...
Related party dealings and R&D Payments The necessity for a payment extends to many areas of tax law. One example is the ability to claim R&D expenditure paid to associates. The relevant provision for R&D expenditure is s 355-205 of the Income Tax...
Abstract:This video covers: Where are online transactions completed? Broad consideration of residency in the corporate and noncorporate context How to effect payments Signing documents online....
What does AI understand about the future of tax preparation and compliance? I asked ChatGPT to generate an image of an accountant who is diligent with preparing his tax returns for his clients. Here is what I got. Then I asked for greater tax compliance “Here is...
AI hallucinated citations have been used in a UK tax case. The headnotes promise a wild ride “appellant relied on case law which could not be found on any legal website – whether cases generated by artificial intelligence such as ChatGPT – yes, case law invented...
On 9th November 2023 the ATO has released web guidance in relation to decentralised finance and wrapping crypto transactions. I presented the below example over a year ago at seminars for The Tax Institute, private clients, and in submissions to Treasury. The ATO has...
