Administrative Appeals Tribunal
Business owners have once again been warmed of the importance of making sure they don't exceed superannuation caps, following the decision of a judge to uphold a $70,000 tax bill for a director of bookstore chain Dymocks.
The government’s R&D Tax Incentive has attracted claims of excessive red tape, with one tax expert suggesting start-ups “sit out” until the recordkeeping requirements are made much clearer.
Businesses could be forced to seek legal advice on complicated tax affairs after a tribunal found that a property developer who relied on his accountant’s advice had not exercised reasonable care.
Start-ups that hire independent contractors have been urged to be aware of superannuation payment rules in the wake of several recent cases.