Essentials Monthly Tax Update - February 2025

Stay informed with essential tax updates - legislation, significant cases, ATO docs & more. Perfect for juniors or if you are looking for a refresher!

In this session, we cover:

• Quick Updates

  • Quick updates

  • ATO corner

• Updates for tax professionals

  • TPB guidance on new obligations

  • Bakarich - R&D promoter penalties

• Deductions

  • PBR – oops I bought a meth lab

• Division 7A

  • Loan guarantees

  • Taxpayer Alert and Taxpayer Determination

• GST

  • Fisher – ABN registration

  • SFQV – attribution of GST

  • PBR - chai tea

  • Karagounis – claiming input tax credits

• Unexplained deposits

  • Cheung – gifts from overseas

  • Liang – money deposited in trust

• Trouble with trusts

  • Naaman – trustee indemnity

  • Gainer – lost trust deed

Date recorded: 26 February 2025