811, 2023

Is that ute really exempt from FBT?

2024-04-16T14:12:42+10:00

Decoding FBT Exemptions for Utes: A Tradie’s Guide

Is that ute really exempt from FBT?

FBT exemptions. Is that Ute really exempt from FBT?Recent media reports suggest the ATO may have concerns that some tradies could be taking liberties with the FBT exemption available for utes and panel vans where private use is claimed to be minimal. Utes […]

Is that ute really exempt from FBT?2024-04-16T14:12:42+10:00
1503, 2023

ATO Reviewing Arrangements

2024-03-18T18:14:19+11:00

ATO Reviewing Arrangements where Profits Pass through an interposed Company

In February, the Commissioner released Taxpayer Alert TA 2023/1: Interposition of a holding company to access company profits tax-free.

In the Alert, the Commissioner says the ATO is currently reviewing arrangements where an individual accesses the profits of a private company in a tax-free form (that is, without an additional tax liability for the individual) by arranging for the profits to be passed to the individual through […]

ATO Reviewing Arrangements2024-03-18T18:14:19+11:00
1509, 2021

September Newsletter Published 15.09.2021

2021-09-15T11:44:50+10:00

September Newsletter Published 15.09.2021

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

September 2021 Issue Covered

On the Road: How to Treat Work-related Travel and Living Away from Home Costs

  • Travel allowance versus living away from home allowance
  • SMSFs & property development Emerging risks
    – Engage an unrelated property developer
    – Undertake the development itself
    – Invest in an ungeared related unit trust or company
    – Through unrelated unit trusts
    – Collateral purposes
    – Related party […]
September Newsletter Published 15.09.20212021-09-15T11:44:50+10:00
1208, 2021

August Newsletter Published 12.08.2021

2021-08-09T11:53:41+10:00

August Newsletter Published 12.08.2021

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

August 2021 Issue Covered

What the New Your Future, Your Super Means for You

  • Capital works deductions for rental property
    – Construction expenditure that cannot be claimed
    – Required details
    – Adjustments to the CGT cost base
    – Construction expenditure that can be claimed
  • Trust losses: Keeping them in the family
    – Who is in the family?
  • Trust distributions from a discretionary trust
    – […]
August Newsletter Published 12.08.20212021-08-09T11:53:41+10:00
2007, 2021

2021-22 Lodgement Rates and Thresholds – July Information Newsletter

2021-07-20T16:59:52+10:00

July Information Newsletter – 2021-22 Lodgement Rates and Thresholds Published 20.07.2021

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

July 2021-22 Lodgement Rates and Thresholds Issue Covered

  • Individual tax rates
    – Individual tax rates for residents
    – 2020-21 Tax thresholds
  • 2021-22 Resident minors’ tax rate on eligible taxable income
  • Individual tax rates for non-residents
  • 2021-22 Non-resident minors’ tax rate on eligible taxable income
  • Tax Offsets
  • Corporate tax rates
  • FBT rates […]
2021-22 Lodgement Rates and Thresholds – July Information Newsletter2021-07-20T16:59:52+10:00
907, 2021

July Newsletter Published 9.07.2021

2021-07-07T19:08:34+10:00

July Newsletter Published 9.07.2021

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

July 2021 Issue Covered

  • Avoid Common Mistakes in your Business Return, and include appropriate income
    – WHAT TO INCLUDE IN YOUR BUSINESS’S ASSESSABLE INCOME
    – CASH INCOME
    – GOVERNMENT PAYMENTS
    – COMMISSIONS, INVESTMENT EARNINGS, GRATUITIES, COMPENSATION PAYMENTS
    – INCOME NOT PART OF EVERYDAY BUSINESS ACTIVITIES
    – CAPITAL GAINS AND LOSSES
  • Getting Deductions for Clothing and Laundry Expenses Right
    – OCCUPATION-SPECIFIC CLOTHING
    – PROTECTIVE CLOTHING
    – WORK […]
July Newsletter Published 9.07.20212021-07-07T19:08:34+10:00
906, 2021

June Newsletter Published 9.06.2021

2021-06-08T13:09:32+10:00

June Newsletter Published 9.06.2021

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

June 2021 Issue Covered

  • The Tax Treatment of Cryptocurrency
    – CAPITAL GAINS TAX
    – PERSONAL USE ASSET
    – REVENUE ACCOUNT?
    – TRADING STOCK?
    – FOREIGN CURRENCY GAINS OR LOSSES?
    – RECORD KEEPING
  • New Guidance on “Personal Services Income” Rules
    – WHY THE PSI LURE?
    – THE UPDATES
    – THE 50% TEST
    – THE RESULTS TEST
    – THE PSB RULES
    – IMPACT OF THE PSI RULES
    – CAN ANTI-AVOIDANCE RULES APPLY?
  • […]

June Newsletter Published 9.06.20212021-06-08T13:09:32+10:00
1205, 2021

Federal Budget 2021-22

2021-05-12T18:54:03+10:00

Federal Budget 2021-22

The Government has decided not to go down the austerity path, which will be a relief for many taxpayers and businesses.

Rather, the Government has decided to put its foot on the accelerator with the hope that the growth in the economy over a long period of time will help to pay down the debt that has been central to the Government’s response to COVID-19.

On personal taxation, in an expected announcement, the Government confirmed that […]

Federal Budget 2021-222021-05-12T18:54:03+10:00
505, 2021

May Newsletter Published 5.05.2021

2021-05-03T22:53:14+10:00

May Newsletter Published 5.05.2021

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

May 2021 Issue Covered

  • EOFY Tips for Your Tax Plan
  • Temporary full expensing
  • Use the CGT rules to your advantage
  • Investment property
  • Pre-pay investment loan interest
  • Bring forward expenses / defer income
  • Dealing with excess before-tax super contributions
    – Case study
    – EXCESS CONCESSIONAL CONTRIBUTION CHARGE
    – SHORTFALL INTEREST CHARGE
    – Final reminders
  • The SME Recovery Loan Scheme is now open
    – […]
May Newsletter Published 5.05.20212021-05-03T22:53:14+10:00
2508, 2020

Further Land Tax Relief for Landlords and Business Owners

2020-08-25T11:22:58+10:00

Further Land Tax Relief for Landlords and Business Owners

The Victorian Government has announced further land tax relief for landlords and business owners, in response to the coronavirus (COVID-19) pandemic, as part of its extension of the commercial and residential tenancy relief schemes until 31 December 2020.

  • An increased 50% waiver of the property’s 2020 land tax, and deferral to 31 March 2021, for landlords of residential and commercial properties who provide eligible […]
Further Land Tax Relief for Landlords and Business Owners2020-08-25T11:22:58+10:00
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