Webb Martin Consulting - Expert Tax Advice

On Friday 4 March 2011 the Federal Government announced it will be amending the income tax law to: better align the key concept of ‘income of the trust estate’ (i.e. distributable income) with the tax law concept of ‘net income of the trust estate’ (taxable income), so as to reduce anomalous outcomes and opportunities to [...]

With the tragic events of the floods dampening the beginning of 2011, the Australian Taxation Office (ATO) have also recognized that at these difficult times communities have priorities other than complying with their tax obligations and as such have offered a number of concessions, which we have discussed below. Bucket donations Similar to the Victorian [...]

Click here to read our latest Newsletter which discusses the 2011 Flood Concessions.

The 2010 year saw many highlights and of course some lowlights in the wide world of tax. As a brief re-cap, some of the highlights included the release of the much anticipated Henry Review, the implementation of the tax agents services regime, the release by the ATO of guidance on undrawn present entitlements and of [...]

The issue of whether discretionary trusts can stream franking credits and other types of income is at the forefront of everyone’s mind at the moment.  An interesting case from earlier this month sheds some light in this area. Click here to read more.