Knowledge Shop white papers & guides

No trustee beneficiary statement, no trust tax return lodgement.

For years, trustee beneficiary (TB) statements have often been overlooked or ignored - but not anymore. With the 2024 tax return season in full swing, accountants are discovering that trust returns won’t validate without the TB statement labels being completed.

Failure to submit a valid TB statement on time can trigger a hefty 47% Trustee Beneficiary Non-Disclosure Tax (TBNT), plus interest on any unpaid liability. This means accountants cannot afford to miss or delay TB statements. The risk isn't just to clients - it's to firms too.

Download our exclusive whitepaper to confidently navigate TB statements, uncover the key questions accountants are asking, and understand why countless professionals rely on Knowledge Shop for our trusted expertise.

The legislation articulating the main residence absence rule is only 175 words in length, and looks simple enough, until real life gets in the way and you need to test it against a wide array of client scenarios.

The main residence exemption, and in particular the application of the absence rule, is always a hot topic on Knowledge Shop’s help desk.

The Applying the Main Residence Exemption Absence Rule: What Accountants Are Asking white paper brings together the top questions and answers and shares the knowledge on the issues practitioners face when applying the absence rule in practice across key themes:

1. Does the absence rule apply?
2. When a client moves or returns from overseas
3. What influences the absence rule

Published 16 November 2023

The Technology Investment Boost is generating a lot of questions right now as the profession strives to maximise client outcomes.

The Technology Investment Boost: What Accountants Are Asking white paper brings together the top questions and answers and shares the knowledge on the issues practitioners face when applying the boost in practice.

Published 21 August 2023

The addition of eight new Code of Professional Conduct requirements, combined with breach reporting that came into effect on 1 July 2024, herald a new era of regulation for tax practitioners.

Practitioners are held accountable for their actions, the actions of those working with them to deliver tax and BAS agent services, to the community of tax practitioners, to Government, and to the community at large.

While many of the recent changes tighten existing obligations, others impose new rules.

Knowledge Shop's Guide to the Tax Practitioners Code of Conduct & other measures explores those changes.

Published 13 September 2023

The ATO has responded to recent High Court cases that fundamentally change the way we need to distinguish between employees and contractors.

In this guide we walk you through the issue and the expectations including.

• The High Court decisions and their implications
• The ATO's response and expectations 
• The practical implications

Published 5 Feb 2023.

We know that trusts is one of those areas where the profession struggles for certainty. To help clarify some of the common issues, we cover some of the core problem areas;

• Application of Section 100A
• Trusts & Division 7A
• Franked dividends in a trust
• Cross border capital gains in a trust
• Disclaiming trust entitlements

Published 17 November 2022.

The Price is Right: Budget 2024-25

Download the 'adviser edit' of Budget 2024-25.

This is a pre-election budget with everyone getting a little something to ease cost of living pressures. Like the Price is Right gameshow, the outcome will all come down to the price paid at the checkout.

Published 15 May 2024.