by Canning Tax & Advisory | 14 Nov 2022 | Business Operations, Business Planning, Tax Compliance
In September, amid a climate of startling interest rates, UK Chancellor Kwasi Kwarteng announced a series of tax cuts, including the reduction of the top personal income tax rate that applies to those earning more than £150,000 from 45% to 40%. Just ten days later,...
by Canning Tax & Advisory | 14 Nov 2022 | Business Operations, Business Planning, Tax Compliance
New guidelines for professional services firms – lawyers, architects, medical practitioners etc., came into effect on 1 July 2022. The guidance takes a strong stance on structures designed to divert income in a way that results in principal practitioners...
by Canning Tax & Advisory | 14 Nov 2022 | Business Operations, Tax Compliance
Queensland backs down on Australia wide land tax assessment The Queensland Government has backed away from an amendment that would have seen the land tax rate for investment property in Queensland assessed on the value of the investor’s Australia wide land holdings...
by Canning Tax & Advisory | 14 Nov 2022 | Business Operations, Tax Compliance
The deadline for existing directors of Australian companies to obtain a Director Identification Number is 30 November 2022. All directors of a company, registered Australian body, registered foreign company or Aboriginal and Torres Strait Islander corporation (ATSI)...
by Canning Tax & Advisory | 14 Nov 2022 | Business Operations, Business Planning, Tax Compliance
Sportspeople, media personalities, celebrities and ‘insta’ influencers beware. The ATO has taken a U-turn on how fame and image should be taxed. If you’re famous and make an income from your fame and image, the way the ATO believes you should be taxed on the income...
