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Recent Banks Group News

The PSI Unrelated Clients Test

July 29, 2014

The unrelated clients test is one of the 4 tests in Division 87 of the Income Tax Assessment Act 1997 to determine whether income from within a structure is PSI income or PSB income. Assuming the structure is able to …

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Non-Resident Contractual Arrangements into Australia

The GST regime is not strictly confined to only apply to Australian entities.  Non-resident entities can also be required to be registered for GST where certain conditions are satisfied. By way of background, section 9-5 of the GST Act prescribes …

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July 1, 2014

As the 2014 Financial Year draws to an end, it is important that trust resolutions are prepared and signed before 30th June 2014.  In this resolution, it is important to consider and document the following: 1. Definition of Trust Income …

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Banks Group is an association of independent firms that operate in both Melbourne and Sydney under the same trading name. Neither the Melbourne Banks Group firm or the Sydney Banks Group firm are partners or agents of each other and shall not be liable for any act or omission of each other.