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Local Tax Club Series - Professional Firm Profits - Part 7 (Sydney)

Source: New South Wales

Published Date:

 
On 16 December 2021, the ATO released the finalised Practical Compliance Guideline PCG 2021/4: Allocation of professional firm profits - ATO compliance approach. With a delayed commencement date of 1 July 2022, and transitional arrangements available until 1 July 2024, this will provide tax practitioners time to identify and advise those 'high risk 'clients. Join Vanessa as she examines the professional practices framework, including:
  • The history of personal services income (PSI), professional firm profits and Everett assignments
  • A detailed review of Practical Compliance Guidance PCG 2021/4: Allocation of professional firm profits -ATO compliance approach and the latest PSI guidance issued by the ATO
  • What the PCG does not address and how can advisors navigate those circumstances
  • How structuring can be valuable in complying with PCG 2021/4.

Local Tax Club (Sydney) - August Tax Update

Author(s): Todd Bromwich
Materials from this session:

Details

The material is copyright. Apart any fair dealing for the purpose of private study,

research critisism or review, as permitted under the copyright Act, no part may be rerpoduced by any process without written permission from The Tax Institute.

Unless expressly stated, opinions are not that of The Tax Institute, which accepts no responsibility for the accuracy of any of the information contained within it.

This material is copyright. Apart from any fair dealing for the purpose of private study., research, critisism or review, as permitted under teh copyright Act, no part may be reproduced by any process without written permission from The Tax Institute.

Unless expressly stated, opininons are not that of The Tax Institute, which accepts no responsibility for the accuracy of any of the information contained within it.

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