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Easy Tax Solutionz



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G20 Finance minsters

Posted on October 11, 2015 at 1:25 AM

The Group of 20 major economies have endorsed a package of measures to tackle corporate tax avoidance, but questions remain about whether countries will follow through on the plans or leave loopholes multinationals can exploit.


G20 finance ministers agreed to back proposals drawn up by the Organisation for Economic Co-operation and Development, which aim to shake up rules dating back almost a century that govern taxation of profits from international commerce.


The ministers reached the agreement against a backdrop of concern about weak economic growth, tight government finances and media reports on the tax structuring used by companies including Starbucks and Google that have spurred public anger in Europe and the United States in recent years over tax avoidance.


"This is a reaction of people who cannot stand anymore that they pay their fair share of taxes, that they contribute to fiscal consolidation while companies, especially multinationals, can avoid tax," European Economic Affairs Commissioner Pierre Moscovici told Reuters.


The practise of so-called Base Erosion and Profit Shifting (BEPS) has allowed companies to move profits out of the countries where money is earned and into jurisdictions such as Luxembourg, Ireland or Bermuda that do not tax them.


The agreement endorsed by the G20 ministers late on Thursday aims to close the gaps in existing international rules.


The plans include provisions to give governments a global picture of the operations of multinational companies, and minimum standards on so-called "treaty shopping" to put an end to the use of conduit companies to channel investments.


"The challenge is consistent implementation," said Pascal Saint-Amans, director of the OECD Centre for Tax Policy and Administration.


The OECD said a conservative estimate of the amount of untaxed money moved by companies into tax havens was $100 billion to $240 billion annually, suggesting tens of billions of dollars in lost tax revenue.


Technology companies are seen as the most adept at exploiting loopholes, but drug makers, medical device groups, banks, fast food groups and retailers all commonly use contrived arrangements to cut their tax bills.


Tax advisers agree the measures could force many companies to restructure their operations and rethink how they fund themselves.


However, multinational enterprises (MNEs) will try to exert influence over the way the plans are implemented.


"The implementation phase now starts and MNEs and their advisers will have to continue to make their voice heard in the implementation phase to limit negative impacts on business," said Keith O'Donnell, board member at Taxand, which provides tax advice to multinational businesses.


"If certain states don't implement or implement partially, MNEs may be able to take advantage of this," he added.


The crackdown on corporate tax avoidance has been led by governments, who asked the OECD to develop the plans.


British Finance Minister George Osborne urged OECD chief Angel Gurria to put pressure on countries to enact the measures.


"I think he should call out countries that are not implementing what has been signed up to and hold our feet to the fire," Osborne said after the meeting of G20 ministers in Lima.

AFR Weekend

smsf investing in property

Posted on October 5, 2015 at 12:50 AM
It has been reported that the rules may change when it comes to lending for investment properties in your smsf. If you are thinking about buying an investment property in your fund it may be a good idea to look at our soon

smsf investing in property

Posted on October 5, 2015 at 12:50 AM

It has been reported that the rules may change when it comes to lending for investment properties in your smsf. If you are thinking about buying an investment property in your fund it may be a good idea to look at our soon

Making comments on my blog

Posted on September 10, 2015 at 6:40 PM

If you would like to contribute to this blog page all you need to do is right it in the testimonials page and I will add it to the appropriate comments on my blog page.

Have a great day :)


Posted on September 8, 2015 at 4:05 AM

SMSF's are being talked about a lot lately Can I buy a property with it, are they the same rules as if I bought one personally?

Next year is when a lot of the rules become even tighter. As a client you will no longer be able to ask advice from an accountant regarding SMSF'S.

Unless the accountant you are speaking to has done some extra studies.

Its great to have your own self managed superannuation fund, but you must know the rules. 

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Nearly time to see your tax agent to get that return

Posted on May 22, 2015 at 10:10 AM

Time to get those receipts together and book an appointmet with your tax agent.

Its important to make sure youbhave all your payment summaries.

If you have private health cover you need to bring your end of year paperwork

When looking for a good tax agent ask friends work colleagues where they go and what their experience was like.

Its not just about how cheap it is


Posted on March 25, 2015 at 10:55 AM

Welcome to our new website. We hope to give you helpful tips on your business growth, understanding on tax issues. Up and coming rules and regulations. Along with a few funny stories to keep things light.

Tax Act Birthday

Posted on

It is the Tax Acts 100th birthday today .. some people will thing that is a good reason to celebrate others may be wondering why we are celebrating.

If you would like to know how you could be excited about tax then we need to talk.

Are you leaving some of your tax with the ATO each year, or worse you are giving them more of your hard earned money to the ATO?

Why is it that some people get a great tax return and others don't. Well it isn't their accountant doing something shonky, it is because they have learned how to be smart with their money and let money work them and not them working for money.

Are these questions you need answers to ? Or are at least curious about? Then ask around what are these people doing that they make the ATO work for them.