Going into business with other people can be exciting and can be extremely rewarding. A formal agreement can set the ground rules and stop owners getting caught out if things don’t quite go as well as planned.

Compensation for financial wrong-doings, such as has been uncovered by the Royal Commission, may still attract tax. And with any investment, there are taxation issues to consider along the way.

We also look at the ATO’s use of “taxpayer alerts”, and the ins and outs of partnership agreements.

Please contact us for clarification, or further advice, regarding any of the topics covered in this newsletter.