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Tax deduction denied for signature basketball shoe R&D

By WSC Group | Created on December 12, 2024

The Federal Court has denied a sports company’s appeal to claim research & development incentives for the creation of an Australian signature basketball shoe.

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ATO reminder about family trust elections

By WSC Group | Created on December 5, 2024

Taxpayers may be considering whether they should make a family trust election ('FTE') for a trust, or an interposed entity election ('IEE') for a trust or other entity.

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ATO's tips for small businesses to 'get it right'

By WSC Group | Created on December 5, 2024

While the ATO knows most small businesses try to report correctly, it understands that mistakes can happen.

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SMSFs cannot be used for Christmas presents!

By WSC Group | Created on December 5, 2024

There are very limited circumstances where taxpayers can legally access their super early, and the ATO is reminding taxpayers that 'paying bills and buying Christmas presents doesn't make the list.'

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Can staff celebrations attract FBT?

By WSC Group | Created on December 5, 2024

With the holiday season coming up, employers may be planning to celebrate with their employees.

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Christmas Parties & Gifts 2024

By WSC Group | Created on December 5, 2024

Year-end (and other) staff parties

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Reminder of December 2024 Quarter Superannuation Guarantee ('SG')

By WSC Group | Created on December 5, 2024

Employers are reminded that employee superannuation contributions for the quarter ending 31 December 2024 must be received by the relevant super funds by 28 January 2025.

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Taxpayer's claims for various 'home business' expenses rejected

By WSC Group | Created on December 5, 2024

In a recent decision, the AAT rejected in full a taxpayer's claims for 'several classes or categories of deductions.'

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When overseas workers are Australian employees

By WSC Group | Created on November 12, 2024

The Fair Work Commission has determined that a Philippines based “independent contractor” was an employee unfairly dismissed by her Australian employer.

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Are student loans too big?

By WSC Group | Created on November 12, 2024

Australian voters tend to reject US style education favouring more egalitarian systems where income does not determine access.

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