Trusts’ compliance with anti-avoidance rules reviewed The ATO has announced that it is reviewing selected trusts’ compliance with sections 100AA and 100AB of the ITAA 1936. These anti-avoidance rules are designed to prevent trustees using tax-exempt entities to shelter the trust’s net income. Specifically, it is looking at situations where a tax exempt entity is […]
Case: PSI and the ‘results Test’
Case: PSI and the ‘results Test’ Gavin: It seems the ‘results test’ is a pretty hard barrier to get over. Here’s another example, with some lessons for the average punter. The facts During the 2011/12 income year, the taxpayer company (the company) entered into three agreements with BSI Contracting Pty Ltd (BSI) under which the […]
