Documenting gifts or loans from related overseas entities

Disguising undeclared foreign income as a gift or loan The ATO is currently reviewing certain arrangements where Australian taxpayers seek to disguise undeclared foreign income as a gift or loan. Genuine gifts or loans received from related overseas entities (including family members and friends) are sometimes used to fund businesses or to acquire income-producing assets. […]

Business tax update October 2021

Extending administrative relief for companies to use technology The Government has passed legislation renewing the temporary relief that allows companies to use technology to meet regulatory requirements under the Corporations Act 2001. These temporary relief measures will allow companies to hold virtual meetings and use electronic communications to send meeting materials and execute documents until […]

Superannuation caps indexation for 2022

Reminder of superannuation caps indexation for 2022 From 1 July 2021, the superannuation contributions caps have been indexed for the 2022 income year. The new concessional contributions cap for the 2022 financial year is now $27,500 (increased from $25,000). The new non-concessional (i.e., non-deductible) contributions cap for the 2022 financial year is now $110,000 or […]

Common business errors at tax time

Avoiding small business tax time errors The most common errors small businesses make when completing their tax returns are failing to: declare all income account for private use of business funds or assets keep all required records or have adequate record-keeping systems. To avoid making errors this tax time, first ask yourself if you have: […]

2021/22 Federal Budget

Omnis Group Federal Budget Summary 2021/22 Key points covered by this summary: Personal income tax changes Changes affecting business taxpayers Superannuation related changes 1. Personal income tax changes 1.1 Retaining the Low and Middle Income Tax Offset (‘LMITO’) for the 2022 income year The Government has announced that it will retain the LMITO for one […]

Tax treatment of JobKeeper Payments

Broadly, JobKeeper Payments received by an employer are assessable income to the employer Likewise, the payments an employer subsequently makes to an employee that are funded (in whole or in part by the JobKeeper Payment) are generally allowable deductions to the employer. The ATO has recently issued some guidance for employers in receipt of JobKeeper […]

2020/21 Federal Budget Summary

Omnis Group Federal Budget Summary 2020/21 Key points Changes to personal income tax rates Expanding access to Small Business Tax Concessions JobMaker Hiring Credit Uncapped immediate write-off for depreciable assets Temporary loss carry back for eligible companies Reducing the compliance burden of FBT recordkeeping 1. Personal income tax changes 1.1 Changes to personal income tax […]

Testamentary trusts and minors

Treasury Laws Amendment (2019 Measures No 3) Bill 2019 Treasury Laws Amendment (2019 Measures No 3) Bill 2019 has passed both Houses of Parliament and is now law. Testamentary trusts and minors This legislation contains amendments to ensure the tax concessions available to minors in relation to income from a testamentary trust only apply in […]

Foreign income tax offsets

Court confirms ATO’s position on foreign income tax offsets The ATO has welcomed the decision of the High Court to basically uphold the decision of the Full Federal Court in a case which the ATO won, in relation to foreign income tax offsets (FITO). An Australian tax resident had sold some US investments and paid […]

Coronavirus: Government announces new tax measures

ATO’s support measures to assist those affected by COVID-19 The Government has announced a number of economic responses to the Coronavirus (or ‘COVID-19’) pandemic, including economic stimulus packages worth billions of dollars. Some of the key tax measures include: From Thursday 12 March 2020, the instant asset write-off threshold has been increased from $30,000 (for […]

Justin Flavel

Managing Director

Justin’s experience spans across 20 years in accounting, financial analysis and general business practice.

Although born and bred on the land, Justin’s interest was more in spreadsheets, ledgers, and finance which led him to attend university. In 1992, Justin graduated with a Bachelor of Business majoring in Accounting and Finance. As well as qualifying as a CPA member and becoming a Fellow of the Taxation Institute of Australia, he began gaining practical experience in small and mid-tier accounting practices.

During the late 90s, Justin decided to expand his horizons and travel through Europe. It was during this time that he seized the opportunity to expand his knowledge on the workings of large organisations by taking on roles in multinational corporations.

Today, Justin’s passion is in facilitating businesses to grow and evolve. His focus is on acting in the role of business mentor to help clients develop the full potential of their businesses. He joins clients on their unique journey, and provides the tools and knowledge they need along the way to make the right decisions.

Justin’s aim for his clients parallels his own philosophy and personal journey—focusing on his own career growth and business success while maintaining balance in his life with his wife and three daughters.

Omnis Group Managing Director - Justin Flavel