Tighten contractor-pay controls as recruitment verification expands in APAC

Head of tax & legal at The Tax Institute, Julie Abdalla (pictured, centre), said the ruling “brings long‑awaited judicial certainty to an area of trust taxation that has been the subject of significant controversy and compliance activity for more than a decade"

“We will update our views set out in our Interim Decision Impact Statement as soon as possible to provide practical guidance to impacted taxpayers,” the ATO said. The ATO has stood firm on its views in TD2022/1, which provided that UPEs fall under the jurisdiction of Division 7A; however, following the dismissal of its appeal, the ATO will now need to review its taxation determination

With the High Court judgment dismissing the Commissioner of Taxation’s appeal in Commissioner of Taxation v Bendel on Wednesday (10 June), tax advisors told Accountants Daily about the implications of this ruling, and where practitioners and taxpayers involved with unpaid present entitlements (UPEs) now stand. As detailed in a recent analysis by Accountants Daily, the High Court dismissed the Commissioner of Taxation's appeal in Commissioner of Taxation v Bendel, finding that the UPEs were not a loan under Div

The AI research platform is built exclusively for Australian tax professionals and, unlike general AI tools, the platform operates within a ring-fenced environment using only verified Australian tax law, removing the hallucination risk that makes tools like ChatGPT unsuitable for compliance work

Pflaum explained that under the current early-stage innovation companies (ESIC) framework, certain tax incentives are available for investing in start-ups

The AI research platform is built exclusively for Australian tax professionals and, unlike general AI tools, the platform operates within a ring-fenced environment using only verified Australian tax law, removing the hallucination risk that makes tools like ChatGPT unsuitable for compliance work. The platform currently services more than 150 accounting firms and has surpassed 2,000 registered users

"Recruitment payments run through ERP, payroll batches, and bulk file uploads. Verification at this scale needs to operate at the payee level, before payments are loaded, and continuously through the payee lifecycle," said Cram

Verification at this scale needs to operate at the payee level, before payments are loaded, and continuously through the payee lifecycle," said Cram

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