Allocation of Professional Firm Profits: A Strategic Guide
In recent years, the Australian Taxation Office (ATO) has been laser-focused on how professional services firms allocate and tax profits. After releasing draft guidance, the ATO finalised its profit allocation guidelines for these firms in December 2021 by publishing Practical Compliance Guideline PCG 2021/4. Professionals like accountants, lawyers, doctors and IT consultants should carefully study …
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