Foreign Resident Capital Gains Withholding Tax
From 1 July 2017, those who purchase Australian real property or interests in such property valued at $750,000 or...
Accounting & Wealth Insights
Property and your SMSF
Directly held property makes up approximately 19% of all SMSF assets, indicating that many SMSF trustees consider it’s an...
Meals when travelling not work-related expenses
Recent media releases from the Australian Taxation Office (ATO) have stated that they intend to audit more people this...
Fundamental year end tax planning issues
Posted February 26, 2018 by Marius Fourie - Director & Business AdvisorIt is best practice to review clients’ taxation affairs in advance of the year end to identify any tax planning opportunities that may exist. Good planning opportunities do not necessarily have to be most complex / innovative, simple strategies are often the most effective.
READ MORE
Warning for hobbies claiming GST credits
Posted February 8, 2018 by Cayle Petritsch - Director & Wealth AdvisorAn entity cannot be registered for GST unless it is carrying on an enterprise (GST Act s 23-5; 23-10). The term “carrying on an enterprise” is defined in s 9-20 as an activity, or series of activities done in the form of a business.
READ MORE
How will downsizer contributions work for SMSFs?
Posted February 7, 2018 by Cayle Petritsch - Director & Wealth AdvisorTo reduce pressure on housing affordability, downsizer contributions provide an incentive for super fund members aged 65 years or older to sell a main residence. The Treasury Laws Amendment (Reducing Pressure On Housing Affordability Measures No 1) Act 2017, which introduces downsizer contributions, received assent on 13 December 2017.
READ MORE
CbC Reporting: ATO Guidance
Posted February 5, 2018 by Marius Fourie - Director & Business Advisor READ MORE
International taxation issues to consider – Part 3
Posted January 30, 2018 by Cayle Petritsch - Director & Wealth AdvisorMost tax advisers will agree that one of the many ‘knock-on’ effects associated with the fast pace of globalisation is that businesses of all types and sizes are increasingly able to operate cross-border.
READ MORE
Visa data matching available for ATO
Posted January 23, 2018 by Marius Fourie - Director & Business AdvisorFrom 1 July 2017, the Australian Taxation Office (ATO) will receive information on holders of a visa from the Department of Immigration and Border Protection. The information received will cover the 2017/18, 2018/19 and 2019/20 financial years.
READ MORE
Tax technical update – December 2017
Posted January 12, 2018 by Cayle Petritsch - Director & Wealth AdvisorA list of the topics and issues raised in the December 2017 edition of the tax technical update is summarised
READ MORE