In this issue Warning on SMSF asset valuation Budget 2024-25 The assault on professional services practices How much is my business worth? Non-compete clauses and worker restraints under review Warning on SMSF asset valuations The ATO has issued a warning to trustees of SMSFs about sloppy valuation practices. ATO data analysis has revealed that over […]
In This Issue Is a rental asset always excluded from being an Active Asset? Do sub-division activities amount to “Enterprise” for GST? ATO toughens its tax debt stance – GIC & SIC becoming non-deductible Is a rental asset always excluded from being an Active Asset? One of the basic conditions required to be able to […]
In this issue The Fringe Benefit Tax traps The ATO Debt Dilemma Small business tax debt blows out How to take advantage of the 1 July super cap increase Revised stage 3 tax cuts confirmed for 1 July Getting back what you put in: Loans to get a business started The Fringe Benefit Tax traps […]
In this issue Stage 3 personal income tax cuts redesigned Can my SMSF invest in property development? Contractor or employee? The problem when the evidence doesn’t match what the taxpayer tells the ATO Stage 3 personal income tax cuts redesigned The personal income tax cuts legislated to commence on 1 July 2024 will be realigned […]
In This Issue Tax and the Christmas Party New Year’s Resolution – Updating My Estate Plan Assessability of Commuted Lump Sum Insurance Payment Technology Investment Boost (“TIB”) Tax and the Christmas Party The costs (such as food and drink) associated with Christmas parties are exempt from FBT if they are provided on a working day […]
In this issue The controversial case of the taxpayer who claimed a loss on their home Bah humbug: The Christmas tax dilemma The Christmas tax quick guide Tax on super balances above $3m hits Parliament The key influences of 2024 The controversial case of the taxpayer who claimed a loss on their home A decision […]
In this issue Workers owed $3.6bn in super guarantee Up to 10 years in prison for deliberate ‘wage theft’ When trust distributions to a company are left unpaid Fixed-term employment contracts limited to 2 years 30% tax on super earnings on balances above $3 million When is food GST-free? Warning: Redrawing investment loans Workers owed […]
In this issue $20k deduction for ‘electrifying’ your business The ‘Airbnb’ Tax 30% tax on super earnings above $3m Self-education: What can you claim? $20k deduction for ‘electrifying’ your business Electricity is the new black. Gas and other fossil fuels are out. A new, limited incentive nudges business towards energy efficiency. We show you how […]
In This Issue Division 7A breaches outside the amendment period ATO finalises its view on deductibility of labour costs on constructing or creating capital assets Payroll Tax – should WA medical practitioners be concerned? ATO’s stronger stance on new payment arrangements and interest remission Division 7A breaches outside the amendment period The law and ATO […]
In This Issue Division 7A, Distributable Surplus and the meaning of ‘Net Assets’ 2023 Trust Distributions – reducing the risk TR 2023/1: Residency Tests For Individuals Released Managing risks in the allocation of Professional Services Firm profits – Part 2 Division 7A, Distributable Surplus and the meaning of ‘Net Assets’ Clients that operate through companies […]