Author: Michael Lendrum

Following the recent tribunal ruling in New South Wales of Thomas and Naaz Pty Ltd v Chief Commissioner of State Revenue, State Revenue Authorities across Australia have indicated that they intend on increasing investigations into payroll tax non-compliance by General Practitioners (GP). Whilst Revenue Authorities may be targeting GP clinics, these laws also apply to other businesses that engage contractors, including professional consultants and trades people. Why are GP clinics being targeted GPs can operate under a variety of different business models. The structure considered in Thomas and Naaz Pty Ltd is a common example. It involves GPs working under a service agreement with a medical practice. In this instance, the medical practice engages receptionists, nurses, and other support staff. The medical...

The Federal Treasurer Dr Jim Chalmers presented his first federal budget on Tuesday 25th October 2022. We outline some key points below: Superannuation Eligibility for downsizer contributions to superannuation will expand to those aged 55+ years (reduced from 60 years). This will allow more people to make an additional non-concessional contribution of up to $300,000 per contributor from proceeds of selling their main residence (on top of the existing contribution caps). Other eligibility criteria will apply Proposed measures relating to self-managed super fund (SMSF) residency changes (delayed) and SMSF audits (won’t proceed)...