Perks- Focussed, Client-driven Accounting & Financial Services Firm in South Australia & Northern Territory

The Tax Office has released a Taxation Ruling, which sets out the Commissioner's views on when a private company with an unpaid present entitlement (UPE) from an associated trust is considered to have made a loan to the trust for the purposes of the deemed dividend provisions.

Broadly, the ruling provides that the company will be considered to have made a loan under the provisions to the trust if the UPE has been satisfied and the company agrees to loan the amount to the trust, or if the company does not call for payment of a subsisting UPE and thereby agrees that it can be used for trust purposes.

Tax Office Eyes Overdue Tax Lodgments
The Tax Office is eyeing companies, trusts, partnerships and individual taxpayers which have overdue income tax returns.

Tax Scams On Tax Office Radar
The Tax Office has recently highlighted the emergence of new tax schemes, warning taxpayers to be vigilant.

Education Tax Refund - Claims Check
The Tax Office will be data-matching with Centrelink to identify recipients who may be incorrectly claiming the education tax refund.

"Perks have provided me with excellent advice regarding the management of my company.” Warren Rogers

"Perks is more than just our accountants. They’re genuinely our business partner and advisors.” Jenny Sherman

“The proactive nature and forward thinking of the team at Perks has made us stop and think." Neil and Andrew Pike

"Perks has always swiftly responded and seamlessly fallen into stride with us to explore opportunities.” John Kain

"Perks has been our accountants, financial and business advisors for over two decades – critical at every stage of our business journey. " Greg Ennis

"Their detailed understanding of the process...and hands-on approach all combined to achieve an excellent result." Chris Day