Professional Profits Allocation Calculator 2024

On 16 December 2021, the Commissioner of Taxation issued Practice Compliance Guideline PCG 2021/4 Allocation of Professional Firm Profits - ATO Compliance Approach (The PCG). The PCG is controversial as it outlines how the Australian Taxation Office views alienation of income by Individual Professional Practitioners (IPP’s).

The Professional Practitioners Allocation 2024 Master assists you to work out if you and your clients fall within the ATO guidelines. Using a series of Gateways, Risk Assessment Frameworks, Three Income Testa and a ‘Traffic Light System’ of Green, Amber and Red, you enter data into the relevant cells and the calculator will guide you through what is an extremely complex calculation.  

The ATO has indicated it will review the income splitting arrangements of Professionals. This calculator is a must have for all accountants who need to calculate their own compliance with the PCG as well as using the calculator for their professional clients.

It allows for up to six adults and three minors in the allocation of income. It also includes Examples Four to Six from the PCG for you to follow, as well as all 12 Case Studies. The Professional Practitioners Allocation 2024 Master is a must have for all accountants.