Blog News

11 May 2018

2018-19 budget – what tax deductions & concessions are out the door?

The only thing certain in life is death and taxes – so what is set to change? Some of the key changes from the 2018-19 budget that may affect our clients are listed below. Tax deductions on vacant land – better start that build From 1 July 2019, taxpayers will not be able to claim […]

» Read More

23 April 2018

Changes to the CGT Main Residence Exemption

Your ‘main residence’ (your home) is generally exempt from Capital Gains Tax (CGT). To be entitled, the property must have a dwelling on it and you must have lived in it. Proposed new legislation affecting foreign owners Currently, if you are a foreign resident, you are entitled to the main residence exemption in the same […]

» Read More

19 July 2017

Foreign Investors – the effect of Budget 2017 changes

Let’s recap on changes which have now taken effect following the latest Federal Budget. The tax increases and charges to foreign buyers are estimated to bring in an extra $600 million for the government over the next 4 years. Buyers and sellers need to be on their toes in order to comply with the changes. […]

» Read More

7 July 2017

Selling or buying for $750K+ – ATO Clearance certificate now required

What’s the change? Last year, the Australian Taxation office brought in new requirements for property sellers to assist with the collection of foreign resident’s tax liabilities. On 1 July 2017, the requirements changed so that more sellers are required to obtain clearance certificates prior to settlement. Do I need an ATO Clearance certificate? Only if […]

» Read More

19 April 2016

The keys to setting up a franchise business

Once you have decided that franchising is the right option for your business, you need to consider the first steps for setting up a franchise system. It is essential to make sure the basis of any business arrangement is well thought out and structured. It is in everyone’s best interests to speak with a franchising […]

» Read More

9 December 2015

Innovation to be a key driver for Government into the New Year

Earlier this week the Turnbull Government released their Innovation Statement, which sets out the Governments plan support the growth of innovation in Australia. What are the key changes? Some of the key proposals of the Government’s Innovation Statement are: Research and science: Nearly half of the proposed spending will fund research and science infrastructure. It […]

» Read More

28 October 2014

The Australian Tax Office rules on Bitcoins

On 20 August 2014 the Australian Taxation Office (ATO) provided a number of rulings on ‘Bitcoin’. What is Bitcoin? Essentially, Bitcoin is a digital currency used online as a method for payment. It is not physically printed, and it is not controlled by any banks. Unlike conventional currency that is based on gold or silver, […]

» Read More

26 November 2012

Why every business owner should have a Business Will

A Business Will, or a Buy-Sell Agreement, is something that I strongly encourage all my clients who are business owners to have. A properly drafted Business Will, will allow for the smooth transition of a business partner unexpectedly departing the business (for various reasons such as total and permanent disability or death of an owner) […]

» Read More

17 November 2011

Capital Gains Tax and Life Insurance Policies in Business Wills

I was recently asked to give a presentation for Business and Estate Planning Specialists. This company specialises in selling risk insurance for businesses and individuals. They had asked that I explain to their team the taxation implications for various forms of life insurance policies. One issue that was discussed is why it is so important to […]

» Read More

19 September 2011

Key Personal Capital Insurance and Capital Gains Tax

I recently was invited to speak at the Business and Estate Planning Specialists annual conference in Cairns. One issue raised, was whether there was any way to limit exposure to Capital Gains Tax for the reduction of debt in a business, from the payment of Key Person Capital, or Debt Reduction, Insurance. This is a very […]

» Read More

Connect with us