43 | $250m+ Clients With Disputed Tax Debts Tax 'n' Lunch podcast

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Business Vincent Licciardi

Indhold leveret af Vincent Licciardi. Alt podcastindhold inklusive episoder, grafik og podcastbeskrivelser uploades og leveres direkte af Vincent Licciardi eller deres podcastplatformspartner. Hvis du mener, at nogen bruger dit ophavsretligt beskyttede værk uden din tilladelse, kan du følge processen beskrevet her https://da.player.fm/legal.

Tax 'n' Lunch « »
43 | $250m+ clients with disputed tax debts

1M ago 17:19

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M4A•Episode hjem

Indhold leveret af Vincent Licciardi. Alt podcastindhold inklusive episoder, grafik og podcastbeskrivelser uploades og leveres direkte af Vincent Licciardi eller deres podcastplatformspartner. Hvis du mener, at nogen bruger dit ophavsretligt beskyttede værk uden din tilladelse, kan du følge processen beskrevet her https://da.player.fm/legal.

The ATO quietly changed its longstanding policy a couple of weeks ago about not chasing disputed tax debts except in rare circumstances.

Now, high net worth private clients and big family businesses will be required to pay half of the disputed tax debt even though they are, well, disputed. Yes, that's right. Clients will need to pay the ATO even though they don't agree with the tax that's supposedly owing.

It's not all bad though. In return, the ATO will agree not to start debt collection and also cancel some of the interest that accrues on the balance of the debt owing.

This change in policy is significant because the Government has foreshadowed that it is changing the law to deny clients a tax deduction on interest paid to the ATO. This could make paying the ATO a very costly exercise, with the current tax-adjusted interest rate 15%+.

Join me as I discuss these new rules and when they apply.

Connect with me here (www.linkedin.com/in/vincentlicciardi)

… continue reading

47 episoder

#Business #Vincent Licciardi

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43 | $250m+ clients with disputed tax debts

published 1M ago

Del

M4A•Episode hjem

Indhold leveret af Vincent Licciardi. Alt podcastindhold inklusive episoder, grafik og podcastbeskrivelser uploades og leveres direkte af Vincent Licciardi eller deres podcastplatformspartner. Hvis du mener, at nogen bruger dit ophavsretligt beskyttede værk uden din tilladelse, kan du følge processen beskrevet her https://da.player.fm/legal.

The ATO quietly changed its longstanding policy a couple of weeks ago about not chasing disputed tax debts except in rare circumstances.

Now, high net worth private clients and big family businesses will be required to pay half of the disputed tax debt even though they are, well, disputed. Yes, that's right. Clients will need to pay the ATO even though they don't agree with the tax that's supposedly owing.

It's not all bad though. In return, the ATO will agree not to start debt collection and also cancel some of the interest that accrues on the balance of the debt owing.

This change in policy is significant because the Government has foreshadowed that it is changing the law to deny clients a tax deduction on interest paid to the ATO. This could make paying the ATO a very costly exercise, with the current tax-adjusted interest rate 15%+.

Join me as I discuss these new rules and when they apply.

Connect with me here (www.linkedin.com/in/vincentlicciardi)

… continue reading

47 episoder

#Business #Vincent Licciardi

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