Professional tax advice is needed to improve the mental health outcomes for small businesses in financial distress, says a UNSW Business School expert.
Some tax deductions for the cost of managing tax affairs exceed $1 million, but high wealth individual\s can write off the expense in other ways.
There is a solution to help individuals and businesses better manage the cost of tax advice – but it does not involve a cap on deductions, says a UNSW Business School expert.
Sole traders helped by UNSW Tax Clinic who were behind on their quarterly Business Activity Statements were on average seven years behind.
The High Court of Australia has given the Australia Taxation Office a green light to use leaked information about offshore tax havens.
The UNSW Tax Clinic offers unrepresented small businesses and individuals free tax advice and advocacy.
Negative gearing distorts the tax system and is skewed in favour of higher incomes, says UNSW Business School tax expert Dr Ann Kayis-Kumar.