The Australian Taxation Office’s finalised position on the allocation of profits from professional firms starts on 1 July 2022. The ATO’s guidance uses a series of factors to determine the level of risk associated with…
Another year passes by and we look to 2022 with a sense of optimism as the world economy heals from the scars of 2020. With the holiday season around the corner, Morgans take this opportunity…
The Australian Taxation Office recently updated its guidance on tax and cryptocurrency. In early November, the Commonwealth Bank announced that it is now Australia’s first bank to offer customers the ability to buy, sell and…
Directors are now required to register for a unique identification number that they will keep for life. What is a Director ID? A Director ID is a 15 digit identification number that, once issued, will…
Every year, we are asked about the tax impact of various Christmas or holiday-related gestures. Here are our top issues: Staff gifts The key to Christmas presents for your team is to keep the gift…
2021 was to be the year we returned to a post-COVID normal however the pandemic has fundamentally changed the way many of us operate in our personal and work lives. Here is some of what…
The High Court has ruled that the ‘backpacker tax’ is discriminatory. We look at the impact. Since 2017, the ‘backpacker tax’ has taxed the first dollar of income a backpacker earns in Australia - regardless…
This month we catch up with Client & Team Administrator Fleur Morrison. After growing up in Ferntree Gully at the foothills of the Dandenong Ranges, Fleur moved to Ballarat in 2001 and now considers herself…
New legislation will help prevent superannuation assets from being hidden during divorce proceedings. From 1 April 2022, the Australian Taxation Office (ATO) will be able to release details of an individual’s superannuation information to a…
Superannuation is not like other assets as it is held in trust by the trustee of the superannuation fund. When you die, it does not automatically form part of your estate but instead, is paid…
