On Monday 1.3.2021, the ATO released a DRAFT Practical Compliance Guideline PCG 2021/D2: Allocation of professional firm profits – ATO compliance approach (see related TT article about this). On 15 April 2021, the Law Council of Australia made its submission to this proposed PCG – criticising both its foundations and its execution.

See below for further details.

[Tax Month – April 2021]

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