• Three Minutes with Mark

Past Updates

These are the previous Three Minutes with Mark videos - and while they are created to be relevant at the time of distribution, you might find some of the past videos of interest.

If you have any questions, please contact Dr Mark Pizzacalla

Dr Mark Pizzacalla
[email protected]
+61 3 9603 1727 / +61 413 048 440 

 

September 2021

In this edition of 3MWM, Dr Mark Pizzacalla will explain the difference between employees and contractors in light of new case law.  All business owners are impacted - there continues to be confusion in the market place about when you are engaging a person in your business - are they an employee or contractor?  Liabilities for the business and Directors can be significant if you get this wrong. 

 

July 2021

In this July 2021 COVID edition of 3MWM, Dr Mark Pizzacalla will discuss the acquisition of residential property through a trust structure and the interaction with stamp duty foreign purchaser surcharge and trust distributions. 

 

June 2021

In this edition of 3MWM, Dr Mark Pizzacalla will discuss three key tax measures arising from the 2021 Federal Budget and provide his views in relation to each of the tax initiatives. 

 

April 2021

In this edition of 3MWM, Dr Mark Pizzacalla will explain the new draft guidelines issued by the ATO in relation to the taxation and allocation of profits of professional service firms. These rules will directly impact accountants, lawyers, doctors, architects, engineers and financial services firms and their business and profit distribution structures.

 

February 2021

In this First Edition for the year of “3 Minutes with Mark”, Dr Mark Pizzacalla calls out 2021 as being the “Year of the Big Catch up’ in a post COVID environment, and looks at why in person interactions are so important for professionals.

 

December 2020

In this Special Home Edition of '3 Minutes with Mark', Dr Mark Pizzacalla looks at the positive impact that accountants have had working at the frontline, solving business problems arising from the pandemic and how the BDO team responded to the challenge.

 

September 2020

In this Special Home Edition of '3 Minutes with Mark', Dr Mark Pizzacalla looks at that old chestnut “employee v contractor” in the context of employee entitlements and superannuation benefits, and reviews a recent case which is directly on point; Dental Corporation Pty Ltd v Moffet (2020).

 

August 2020

In this Special Home Edition of '3 Minutes with Mark', Dr Mark Pizzacalla looks at what’s happening in Victoria’s Lockdown Version 2.0 focusing on financial health, mental health and family matters.

 

April 2020

In this Special Home Edition of '3 Minutes with Mark', Dr Mark Pizzacalla looks at what’s actually happening at the ‘coal face’ of business in the new world of COVID19.

 

March 2020

In this edition of Three Minutes with Mark, Mark discusses the recent Healius Ltd v C of T case and how the decision might affect how your business pays taxes.

 

January 2020

Are salary and wages always deductible? Well, the answer is “not always”. The ATO has recently issued Draft Tax Ruling 2019/D6 which makes it clear that labor costs incurred for constructing or creating capital assets are non-deductible. If you have already lodged your tax return, it is important to also note that the retrospective nature of the ruling means that you may need to go back and amend prior-year tax returns.

 

December 2019 

Directors Put On Notice. The government is introducing new measures to tackle illegal phoenix activities, where Directors effectively transfer company property to other entities to avoid paying creditors.  They then start the same business in a brand new company.  This is costing taxpayers over $5 billion pa.  New rules are being introduced putting Directors on notice that they will be personally liable for their actions in this space.  

 

October 2019 

Limiting of tax deductions for vacant land 

New tax rules operate from 1 July 2019 to prevent certain taxpayers from claiming tax deductions in relation to vacant land. If the rules apply to you, you will not be entitled to claim deductions such as bank interest, land taxes, council rates, and maintenance costs. It is recommended you review how these new rules work in practice to see how you will be impacted - and ensure you do your tax planning appropriately.  


September 2019
Australia’s “Personal Services Income” (PSI) tax rules operate to prevent individuals from reducing their tax by alienating income that they earn from their personal efforts and skills to associated company, trust and partnership structures.  If the rules apply, all of the income is attributed back in the hands of the individual. Recent cases have highlighted the complexities involved when determining how these rules work in practice.   

July 2019
This edition covers whether a taxpayer is carrying on a business of a share trader.


June 2019
Dr Mark Pizzacalla looks at significant changes in the tax law which impacts how companies will be able to claim their tax losses.


April 2019
This edition covers tax residency, and Mark touches on Harding's case as an example.


May 2019
This edition covers Rental Property Deductions, as in 2019 the ATO has made rental deductions a priority - and Mark discusses the ATO's detection methods, as well as the Top Three mistakes to avoid.


24 May 2019
This edition covers goodwill, referencing the recent Placer Dome decision.