Taxation Law FAQ - Diverting money from business into Tax Haven. Should I tell the ATO?
Date: July 13, 2011
Q. I have diverted a significant amount of money from my legitimate business and had it paid to my overseas account in a tax haven. My concern is if I am discovered what will happen and are you able to assist should I wish to disclose this information to the relevant taxing authorities?
A. Yes. Obviously it is far better to make a voluntary disclosure before you are caught not only because it involves reduced penalties but there is also the chance that you will not be referred to the CDPP for prosecution.
Taxation Law FAQ - Audited By The ATO; Is My Accountant Cheating?
Date: July 14, 2011
Taxation Law FAQ - Can I Claim Holiday Costs When Visiting Tax Havens?
Date: July 14, 2011
Author(s): LAC Lawyers
Taxation Law FAQ - Can I Quarantine My Intellectual Property?
Date: July 14, 2011
Taxation Law FAQ - I Am An Extremely Wealthy Man; Can I Follow The Robert Gerard Example?
Date: July 14, 2011
Taxation Law FAQ - I Was A Client of Phillip Egglishaw
Date: July 14, 2011
Taxation Law FAQ - Should I Tell My Accountant Everything?
Date: July 14, 2011
Taxation Law FAQ - What Happens If I Hide Criminal Business Behind Legitimate Enterprise?
Date: July 14, 2011
Taxation Law FAQ - Will A Settlement Interfere With My Ability To Pay?
Date: July 14, 2011
Taxation Law FAQ - Will Going Bankrupt Avoid My Seven-Figure ATO Debt?
Date: July 14, 2011
Taxation Law FAQ - Will Transferring My Assets To My Wife Keep Them Safe?
Date: July 14, 2011
Taxation Law FAQ - Accountant Being Investigated By The ATO
Date: July 13, 2011
Taxation Law FAQ - Am I Entitled To A Foreign-Sourced Tax Credit?
Date: July 13, 2011
Taxation Law FAQ - Am I responsible for the PAYW of independant subcontractors?
Date: July 13, 2011
Taxation Law FAQ - Are Capital Items and Expenses Different?
Date: July 13, 2011
Taxation Law FAQ - Are High-Flying individuals more likely to be prosecuted or let off for tax fraud?
Date: July 13, 2011
Taxation Law FAQ - Can I claim my holiday costs when I visit my oversea's tax haven advisors?
Date: July 13, 2011
Taxation Law FAQ - Can I Reduce My Capital Gain
Date: July 13, 2011
Taxation Law FAQ - Can My Foreign-Sourced Income Be Made Tax-Free?
Date: July 13, 2011
Taxation Law FAQ - Continuing to use BAS after partnership has ceased to support my drug habit
Date: July 13, 2011
Taxation Law FAQ - Could I Use Criminal Law To Escape Gaol?
Date: July 13, 2011
Taxation Law FAQ - Directors Loans Subject to Taxation?
Date: July 13, 2011
Taxation Law FAQ - Falling Out With Co-Director, Left The Company
Date: July 13, 2011
Taxation Law FAQ - Has There Been A Change To The ATO's Attitude
Date: July 13, 2011
Taxation Law FAQ - How important are accountants in assisting you with tax problems?
Date: July 13, 2011
Taxation Law FAQ - I have an overseas tax haven which I have never declared, can you help?
Date: July 13, 2011
Taxation Law FAQ - I have been advised to follow the Robert Gerard example, what should I do?
Date: July 13, 2011
Taxation Law FAQ - I Haven't Paid My Tax For 18 Years
Date: July 13, 2011
Taxation Law FAQ - I want to restructure my business as a number of OH&S issues have arisen
Date: July 13, 2011
Taxation Law FAQ - Is It Worth Repaying The ATO?
Date: July 13, 2011
Taxation Law FAQ - I've Restructured My Affairs To Rely On Tax Havens
Date: July 13, 2011
Taxation Law FAQ - Money discovered by Austrac transfered from Tax Havens to Australia
Date: July 13, 2011
Taxation Law FAQ - My Accountant Has Restructured My Financial Affairs
Date: July 13, 2011
Taxation Law FAQ - Partners Haven't Filed Tax Returns
Date: July 13, 2011
Taxation Law FAQ - Receiving funds as a result of incorrectly prepared BAS statements
Date: July 13, 2011
Taxation Law FAQ - Recently advised I owe the ATO money, can you assist me?
Date: July 13, 2011
Taxation Law FAQ - Serious Trouble With The ATO Because Of My Accountant
Date: July 13, 2011
Taxation Law FAQ - Served A Notice By The ATO
Date: July 13, 2011
Taxation Law FAQ - Should I Destroy All My Business Documents?
Date: July 13, 2011
Taxation Law FAQ - Should I never tell my taxation advisors fully what is going on to protect me?
Date: July 13, 2011
Taxation Law FAQ - Should I restructure my assets to make them more tax effective?
Date: July 13, 2011
Taxation Law FAQ - Summonsed By The ATO, Failed To Lodge Returns
Date: July 13, 2011
Taxation Law FAQ - Will A Motor Dealer's Licence Save Me Money?
Date: July 13, 2011
Taxation Law FAQ - Will I Lose My Licence To Practice?
Date: July 13, 2011
Taxation Law FAQ - Will The Accountant's Concession Protect Me?
Date: July 13, 2011
Taxation Law FAQ - Will The ATO Believe I Don't Know My Accountant?
Date: July 13, 2011
Business & Commercial Law FAQ - Behind in installments. Should I declare myself bankrupt?
Date: March 03, 2011
I am currently in trouble with my finance company as I am behind in my installments. Should I declare myself bankrupt
Business & Commercial Law FAQ - An aggressive competitor is selling the full range of products which fall under my distribution agreement?
Date: March 03, 2011
My company holds the total distribution rights for a particular product in Australia. Very simply, I came across an aggressive competitor who is selling the full range of products which fall under my distribution agreement. Can you help me and what can I do
Business & Commercial Law FAQ - Approached by another company prior to your product release?
Date: March 03, 2011
My company is a software developer and recently we have developed a system which revolutionises the way in which business is transacted in the market segment our program services. We have been approached by another company who has been made aware of what we are doing prior to its release. What should we do in the circumstances and are you able to assist us
Business & Commercial Law FAQ - Buying a restaurant and require the services of a lawyer who is familiar with liquor licensing?
Date: March 03, 2011
I wish to buy a restaurant and need to have the services of a lawyer who is familiar with liquor licensing. Can you assist
Business & Commercial Law FAQ - Cost indication for creation of documents to start franchise?
Date: March 03, 2011
I wish to set up my own franchise and I need an indication of the cost to draft the necessary documents required by law
Business & Commercial Law FAQ - Director has taken money from the company’s accounts set aside for tax?
Date: March 03, 2011
I am a director of a company and I have just found out that another director has taken money from the company’s accounts set aside for tax purposes – what should I do
Business & Commercial Law FAQ - Gambler, Loan Agreement with redraw facility bank did not refuse access?
Date: March 03, 2011
I have been living with a man for approximately 20 years and during that time we purchased a house and an extra block of land with borrowed funds. As part of the loan agreement there was a redraw facility and when it became obvious to me he was a gambler I directed the bank to refuse him access to the account. Unfortunately this was not done and extensive debts have been run up with the bank now calling on me to satisfy the outstanding balance as we held both properties in joint names. What can I do
Business & Commercial Law FAQ - I am currently considering entering into a joint venture?
Date: March 03, 2011
I am currently considering entering into a joint venture. What should I do
Business & Commercial Law FAQ - I am currently looking at buying a franchise?
Date: March 03, 2011
I am currently looking at buying a franchise and was wondering whether to deal with these types of matters
Business & Commercial Law FAQ - I am in the process of starting up an internet based business?
Date: March 03, 2011
I am in the process of starting up an internet based business and wanted to know whether you have any expertise in this area
Business & Commercial Law FAQ - I am looking to buy a commercial property in NSW?
Date: March 03, 2011
I am looking to buy a commercial property in NSW from which to run my business and was wondering whether you can assist
Business & Commercial Law FAQ - I have developed a unique business which I wish to franchise?
Date: March 03, 2011
I have developed a unique business which I wish to franchise as I do not want employees. What should I do in the circumstances
Business & Commercial Law FAQ - I own a large company and have been approached by a competitor to buy it?
Date: March 03, 2011
I own a large company and have been approached by a competitor organisation to buy it. The offer is an extremely good one. Are you able to advise and prepare all the necessary documentation to allow the sale to proceed
Business & Commercial Law FAQ - I run a nightclub with a friend who also has other business interests?
Date: March 03, 2011
I run a nightclub with a friend who also has other business interests. Recently he has become significantly disinterested in the business and continues to make substantial drawings. What can I do
Business & Commercial Law FAQ - I run a successful business and have restricted capital what I should do to develop it?
Date: March 03, 2011
I run a successful business and am wondering because I have restricted capital what I should do to develop it further
Business & Commercial Law FAQ - I want to purchase a franchise for a new business?
Date: March 03, 2011
I want to purchase a franchise for a new business – is this a complicated process which requires a lawyer
Business & Commercial Law FAQ - I want to purchase my friend’s business, can I use the same accountant or lawyer?
Date: March 03, 2011
I want to purchase my friend’s business – can I use the same accountant or lawyer to save on costs
Business & Commercial Law FAQ - If I declare myself bankrupt will I be able to escape my creditors?
Date: March 03, 2011
If I declare myself bankrupt will I be able to escape my creditors and get on with my life and start again
Business & Commercial Law FAQ - Master franchisor is refusing to accept his responsibility to ensure that poaching does not occur?
Date: March 03, 2011
I am a franchisee and paid good money for the franchise which I operate. Recently it came to my attention through a number of other franchisees that the master franchisor is refusing to accept his responsibility to ensure that poaching does not occur. What should I/we do in the circumstances
Business & Commercial Law FAQ - Money was subscribed to a company on the basis that I would be a shareholder?
Date: March 03, 2011
Money was subscribed to a company on the basis that I would be a shareholder. Yet a check with ASIC indicates that this has not occurred
Business & Commercial Law FAQ - My business partner has withdrawn all the funds from the business account?
Date: March 03, 2011
I am in a partnership and my partner has withdrawn all the funds from the business account - Can they do that
Business & Commercial Law FAQ - Purchased Franchise Business - Claims by Franchisor?
Date: March 03, 2011
About six months ago I bought a franchise business and it is obvious that the claims made by the franchisor are not and could never be met. In addition 50% of the annual franchise fee is to go to promotions and advertising with very little of this having been done. What are my options and can you help me
Business & Commercial Law FAQ - Statement of claim?
Date: March 03, 2011
We have been dealing with a company who has been providing services to us for some years and we have always paid them 60 days. Recently due to changing business conditions we have not used their services and have been served with a statement of claim claiming amounts outstanding past 14 days. Is there anything we can do in these circumstances and can you help us
Business & Commercial Law FAQ - When you buy a franchise does a lawyer need to be involved to assist me?
Date: March 03, 2011
When you buy a franchise does a lawyer need to be involved to assist me? If so what are the major risk areas for me
Business & Commercial Law FAQ - Will it take me long to obtain a certificate of independent legal advice?
Date: March 03, 2011
Will it take me very long to obtain a certificate of independent legal advice
Business & Commercial Law FAQ - Wish to retain a lawyer to assist in setting up a managed investment fund?
Date: March 03, 2011
We work in the financial services industry and wish to retain a lawyer to assist us in setting up a managed investment fund. Can you assist
Business Law FAQ - Are companies superior to partnerships?
Date: March 03, 2011
Are companies superior to partnerships?
Taxation Law - Personal Services Business Structures
Date: January 13, 2011
Author(s): Frank Egan B.A., LL.B., A.C.L.A., F.T.I.A. (Notary), Scott Gray LPAB, Grad. Dip. Legal Practice
When an individual has derived Personal Services Income (PSI) the income will be taxed at marginal rates unless the individual is deemed to be carrying on a Personal Services Business (PSB). There are four tests to determine whether a PSB exists
Taxation FAQs
Date: March 22, 2008
Author(s): LAC Lawyers