The ATO has released long-awaited draft guidance on its proposed compliance approach to the allocation of professional firm profits. The preliminary guidance is contained in the draft Practical Compliance Guideline PCG 2021/D2 (the draft Guideline). The ATO...
Tax Yak – a TaxBanter podcast.
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Tax Yak – Episode 50: GST tricks, traps and time bombs
In this episode of Tax Yak, George Housakos yaks with Nick Kallinikios, Consulting Director at ShineWing Australia and GST Director at Cornwalls, about Australia’s Goods and Services Tax. Nick is an accredited GST specialist, having commenced his tax career at the ATO in 1983, before joining the in-house tax team at a big four bank for 12 years and for close to 20 years at a Big Four accounting firm where he led the national Indirect Tax practice. We will be taking a deep dive into GST tricks, traps and time bombs, that remain as relevant today in 2021 as they were on 1 July 2000, when GST was introduced into Australia.
Hosts: George Housakos & Nicole Rowan, Senior Tax Trainers @ TaxBanter
Guests: Nick Kallinikios, Consulting Director @ ShineWing Australia and Cornwalls
Recorded: 20 January 2020
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Tax Yak – Episode 49: Role of the Australian Small Business and Family Enterprise Ombudsman in small business tax matters
In this episode of Tax Yak, Neil Jones yaks with Dr Craig Latham, Deputy Ombudsman for the Australian Small business and Family Enterprise Ombudsman (ASBFEO). The role of the ASBFEO in small business tax matters may not be well known and Neil and Craig explore the way that the ASBFEO can support small businesses, particularly in tax disputes.
Host: Neil Jones, Director & Senior Tax Trainer @ TaxBanter
Guests: Dr Craig Latham, Deputy Ombudsman for the Australian Small business and Family Enterprise Ombudsman
Recorded: 8 December 2020
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Tax Yak – Episode 48: When is an individual taxpayer a resident for taxation purposes?
When is an individual taxpayer a resident taxpayer? This is a question fraught with complexity. The team discuss the four tests legislated and reflect on guidance issued by the courts in relation to the application of these tests.
Subsequently Lee-Ann and the Michaels discuss the recent changes proposed by the board of taxation and how this has worked in other common law jurisdictions which used to rely on the same tests as Australia
Host: Lee-Ann Hayes, Senior Tax Trainer @ TaxBanter
Guests: Michael Bode & Michael Messner, Senior Tax Trainers @ TaxBanter
Recorded: 29 October 2020
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Tax Yak – Episode 47: Division 7A Subdivision DB, Section 109 Q and common Division 7A tricks and traps
In this episode of Tax Yak, George Housakos yaks with Arthur Athanasiou, Tax Partner at Thomson Geer, about Division 7A. Arthur takes us on a deep dive into the Division 7A relief as they are increasingly relevant to our tax yak audience due to impact of COVID-19. He also provides some timely reminders to tax practitioners.
Host: George Housakos
Guests: Arthur Athanasiou, Tax Partner @ Thomson Geer
Recorded: 27 July 2020
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Tax Yak – Episode 46: Government Stimulus Response to the Coronavirus and other Tax Measures
In this episode of Tax Yak, Neil Jones yaks with The Honorable Michael Sukkar MP about the Government’s response to the Coronavirus Pandemic. It was only in December 2019 that the MYEFO was handed down; Australia was planning to return to surplus, and the Federal Budget was scheduled for May. How has 2020 unfolded from the Government’s perspective and what does the future hold in tax?
Host: Neil Jones
Guests: The Honorable Michael Sukkar MP – Minister for Housing and Assistant Treasurer, Liberal Party and Member for Deakin Victoria in the Morrison Federal Government
Recorded: 28 July 2020
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Tax Yak – Episode 45: Work-related expenses mythbusting
In this episode of Tax Yak, a number of our Senior Tax Trainers gather to correct some of the misinformation around Work Related Expenses (WRE). They also discuss important changes to making WRE claims, and explain what can and cannot be claimed. A useful reminder for Accountants and Taxpayers alike.
Host: Lynne Gibson
Guests: Lee-Ann Hayes and Jenny Daborn
Recorded: 17 July 2020
Check out our Banter Blog covering further info on WRE here.
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Tax Yak – Episode 44: Singapore Tax Law
How different is the Singapore Taxation system from the Australian Taxation System? In this episode of Tax Yak, Lee and the Michaels yak with Adrian Sham to understand the workings of the Singapore Tax System.
The discussion covers a broad introduction of the Singapore Taxation system, including the basis of the law, tax treatment of different income items, tax rates, types of taxes, policy making, engagement with the Inland Revenue Authority of Singapore and the working and taxation of the Singapore retirement fund.
The podcast concludes with another round of TaxBanter Trivia.
Hosts: Lee-Ann Hayes, Michael Bode, Michael Messner
Guest: Adrian Sham, Director of Taxation Services @ Grant Thornton Singapore
Recorded: 6 July 2020
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Tax Yak – Episode 43: Public practice from a client’s point of view
In this episode of Tax Yak, the Michaels yak with Ollie Visser about about his experience in public practice and now as a CFO of a large firm. The discussion covers client relationship management and how to improve the relationship with clients. Further Ollie and the Michaels discuss how clients best utilise their accountant to make decisions and mitigate risk. Finally, the group discusses recent changes in the business landscape due to COVID 19 and how this might affect public practice in the long term. The podcast concludes with a head to head between Ollie and Michael Bode in another round of TaxBanter Trivia.
Hosts: Michael Bode, Michael Messner
Guest: Ollie Visser, CFO @ Video Pro Group
Recorded: 28 May 2020
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Tax Yak – Episode 42: Not-for-profits and the economic stimulus measures
In this episode of Tax Yak, Michael Doran of TaxEd speaks with Jennifer Moltisanti of the Australian Taxation Office about the range of economic stimulus measures to support Not-for-profits. This episode will assist accounting practitioners to manage tax related matters for their NFP and charity clients, including eligibility, enrolment and reporting for the JobKeeper payment scheme.
Resources:
Host: Michael Doran
Guest: Jennifer Moltisanti, Assistant Commissioner, Not-for-Profit Centre and Government
Recorded: 28 May 2020
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Tax Yak – Episode 41: Eligible Business Participant vs Employee
Lee and the two Michaels discuss when an eligible business participant under Jobkeeper legislation could in fact be an employee and what the consequences, advantages and disadvantages of this would be. They discuss the underlying legislation, applicable case law, rulings and the potential approach from the ATO on this matter.
To finish off the episode they engage to see who takes the tax trivia crown for this episode.
Host: Michael Bode
Guest: Lee-Ann Hayes and Michael Messner, Senior Tax Trainers
Recorded: 15 May 2020
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