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Federal Budget 2025: Alfred made me do it!

Tue Mar 25 2025

It was widely predicted that the Albanese led Labor government would call an early election and avoid having to deliver the March 2025 Federal Budget. The unfortunately timed arrival, and slow movement, of ex-Tropical Cyclone Alfred scuttled these plans.

Bendel v FCT: Reports of the death of Division 7A implications for unpaid trust distributions have been greatly exaggerated

Wed Mar 19 2025

Whilst taxpayers may have been hoping for the death of the relationship between unpaid trust distributions and Division 7A, the ATO has now sought leave to appeal the recent decision in Bendel v FCT [2025] to the High Court.

Federal Budget Predictions 2025: A budget no one wants to give

Mon Mar 17 2025

With the looming Federal Election, this year’s Budget is out of sync with the usual timing, and is being tipped as one that Labor was not eager to deliver. But with the election clock ticking, and an inconveniently timed cyclone, the Government had little choice but to press ahead with handing down the Budget on 25 March.

Mergers and Acquisitions Reform: What the changes mean

Fri Mar 14 2025

At the end of last year, the Australian government introduced the Treasury Laws Amendment (Mergers and Acquisitions Reform) Bill 2024, which aims to overhaul the country's merger control regime.

ATO interpretation confirms Personal Services Income (PSI) taxation

Wed Feb 12 2025

Throughout your medical career, you may have come across or be familiar with the terms Personal Services Income (PSI), Personal Services Business (PSB) and personal exertion. These are complex taxation terms that can often be misunderstood, which may lead to unforeseen tax issues for you in the future.

Deductibility of financial advice fees

Tue Feb 11 2025

Many individuals engage financial advisors to assist them in selecting, managing and reviewing investments. While many assume that financial advice fees will be tax deductible, unfortunately this is often not the case.

Changes to Superannuation transfer balance cap

Wed Feb 05 2025

From 1 July 2025, the general Super transfer balance cap will increase.  This follows the release of the December 2024 quarterly Consumer Price Index (CPI) data.

Why segregation of duties matters for your business: Protecting against financial fraud

Tue Dec 10 2024

Segregating duties is a straightforward yet powerful tool for protecting your business from fraud. By dividing responsibilities, you can not only reduce risk but also build a more trustworthy, accountable environment for everyone. Investing in SOD safeguards your assets, your reputation, and, ultimately, your peace of mind.

Increasing Data-Matching Risks: What Business Owners Need to Know

Tue Dec 10 2024

The Australian Taxation Office (ATO) is increasing its cross-referencing of data from public records, financial institutions, and government agencies, to identify inconsistencies in business reporting. We are seeing more frequent inquiries regarding discrepancies, with financial consequences for businesses that aren’t fully prepared to explain any variances.

Pilot Directions Newsletter Volume 65, December 2024

Tue Dec 10 2024

This quarter's Pilot Directions Newsletter includes a range of useful information and insights for businesses.

Danger, Will Robinson! The ATO targets Foreign Trusts

Mon Dec 09 2024

The ATO’s renewed focus on foreign trusts, combined with their data matching systems, should serve as a reminder for beneficiaries and their advisors to consider the application of the foreign trust rules to their situation.

Client Case Study: Windsor Health Quarter

Thu Nov 28 2024

Property development can be complex, particularly when there are multiple unrelated investors involved. Pilot Partners have decades of experience working with construction and property development clients, providing expert accounting, structuring and tax advice tailored for the specific needs of this sector.

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