The taxation of minors in Division 6AA is an anti-avoidance provision. Anybody channeling certain income to minors is hit with punitive tax rates.

Division 6 ITAA36 is the foundation for the taxation of trusts. Everything else wraps around Division 6.

There are more than 800,000 trusts in Australia with assets totalling more than $3 trillion. But what is trust?

Tax audits frighten most taxpayers and tax agents. They cost time and money. And you never know for sure how it will end.

Psychology is an ‘other health service’ in the GST Act, hence GST-free. But it isn’t as easy as that. Some services you provide are subject to GST.

An SMSF needs an ABN and TFN. A corporate trustee as a special purpose company only needs an ACN. That is the answer in a nut shell but here is more.

The definition of trust income in your deed determines who gets what income and as important who pays tax on what income. So you need to get this right.

Tolls are travel expenses and subject to GST (just in case you were wondering). And it makes sense when you think about it.

The 50% CGT discount in Div 115 has saved millions of taxpayers billions of dollars since it was first introduced on 20 September 1985.

 Tax rulings form an important part of Australia’s tax framework. They plug the holes that our tax laws leave behind.