General Archive

Failure to lodge returns can land criminal conviction

We regularly have clients referred to us who are facing prosecution by the ATO for failure to lodge income tax returns or BASs, often for a number of years.  Many of those clients express to us their surprise that they face the possibility of receiving a criminal conviction for failure to lodge. Every accountant will […]

Passing the baton -trusting into the future

This is a paper delivered by Tony to the National Division of the The Tax Institute at the Sheraton Noosa on 19 August 2010. It analyses in some detail with the issues surrounding the fact that assets which are held in family trusts cannot be properly disposed of by will and suggests alternative mechanisms for inter-generational transfer.

Note that since this paper was delivered, the Federal Court decision in Clark’s case was upheld on appeal by the Full Federal Court and the Commissioner of Taxation’s request for leave to appeal to the High Court was rejected.