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ATO take 'gloves off' on overseas income

Five years ago, the Australian Taxation Office (ATO) offered a penalty amnesty on undisclosed foreign income. Five years on, the ATO has again flagged that underreporting of foreign income is an issue but this time the gloves are off.  Read more…

The recent income tax cuts that passed through Parliament do not mean everyone automatically gets $1,080 back from the Government as soon as they lodge their income tax return. Read more…

From 1 January 2020, the Government intends to restrict the value of cash payments a business makes or accepts to amounts under $10,000. Ignoring the limit will become a criminal offence with penalties of up to 2 years in prison and/ or $25,200*.  Read more…

Weirdest tax deductions revealed

Would you claim the Lego you bought for your kids throughout the year as a tax deduction? One taxpayer did and it made the Australian Taxation Office's 2018-19 list of most unusual claims.  Read more…

Sale of Marand Precision Engineering

A huge congratulations to our clients, the Ellul Family, on this landmark deal.

Our Corporate Advisory team lead by our Directors, Anthony Dobbyn and Mathew Skelley, are proud to have been a part of this exciting transaction in collaboration with Gadens and KPMG Australia, to facilitate the sale of Marand Precision Engineering to CHAMP Private Equity.

 

A press release issued by Marand Precision Engineering regarding the transaction can be read here.

  

Read the full Australian Financial Review article here  Read more…