April Newsletter Published 15.04.2021

Our April Newsletter was sent out today – Did you receive yours?

April 2021 Issue Covered

  • Some money is not counted as ‘income’ by the ATO
  • New insolvency reforms to support small business
    – ELIGIBILITY
    — Non-assessable, non-exempt income
    — Other amounts that are not taxable
    – SIMPLIFIED LIQUIDATION
  • When it comes to real estate and CGT, look at timing
    – Two “main residences” is possible
  • Managing your superannuation transfer balance account
    – CREDITS TO YOUR ACCOUNT
    – SUPERANNUATION INCOME STREAMS
    – ACCOUNT-BASED INCOME STREAM
    -CAPPED DEFINED BENEFIT INCOME STREAMS
    – TRANSFER BALANCE CAP
  • Refinancing loan interest may be deductible to a partnership
    – TYPICAL FINANCING SCENARIO FOR GENERAL LAW PARTNERSHIPS
    – SO WOULD THE INTEREST COSTS BE DEDUCTIBLE TO THE PARTNERSHIP?
  • Partnership facts and foibles
    – Set-up costs
    – Joint and several liability
    – Other tax factors

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