UPDATE 30 | Queensland COVID-19 Business Support
Queensland COVID-19 business support ranges from $10,000 to $30,000 for employing business.
Posts
303 | Unfair Contract Case Study
Here is an unfair contract case study to show you how the unfair contract term provisions work.
302 | Unfair Contract Terms
The unfair contract term provisions might help you to get out of an unfair contract.
291 | Inventory Management Software
Xero and Shopify come with inventory management software - a simple one, but one nevertheless. How far can they take you?
285 | Expand Overseas
What happens to your tax position when you expand overseas? Here is Clint Harding of Arnold Bloch Leibler in Sydney with the anwer.
271 | Company Constitutions
What is the difference between company constitutions and shareholder agreements? Should you just have one or do you need both?
265 | Home-Based Business CGT
Is your home-based business CGT safe? Or will you be hit with a huge tax bill when you sell your family home?
263 | In Connection With Your Retirement
Qualifying for the 15 year exemption depends on you passing the 'in connection with your retirement' hurdle.
UPDATE 22 | Eichmann Decision
The Full Federal Court has overturned the Federal Court's Eichmann Decision. Here is Andrew Henshaw of Velocity Legal in Melbourne with more.
UPDATE 19 | COVID-19 Restructuring
The current COVID-19 crisis might make more businesses eligible for the small business CGT concessions due to lower market values.
247 | Bucket or Holding Company
Bucket company to the side or interposed holding company? Here is Geoff Stein of Brown Wright Stein Lawyers with some insights.
UPDATE 13 | COVID-19 Contract Law
What happens to contract law during COVID-19? Here is Geoff Stein of Brown Wright Stein Lawyers in Sydney with some insights.
126 | Tax Talks Q & A
This Tax Talks Q & A goes through 10 questions and comments you sent in up to April 2019.
77 | Government Grants
Government grants can help our clients to prosper and survive. They can save our client's cash flow position. Here is Stuart Smith of Vebiz with the details.
74 | Small Business CGT Concessions
The small business CGT concessions are one of the most generous tax concessions in Australia. Adrian Bailey of Cleary Hoare will guide you through the details.
71 | New Basic Conditions When Selling Shares or Units
The basic conditions for small business CGT concessions have tightened. Adrian Bailey of Cleary Hoare will walk you through the changes.
67 | How to Exit
How do you exit our practice? What do most practitioners do? We asked Steven Fine of Growth Focus to walk us through the options you have.
51 | Div 7A Payments
Div 7A payments can turn into an expensive exercise. Including transfer or provision of company assets. Peter Adams of Augmentor will tell you what this is all about.
49 | Earnout Arrangements
Most professional practices sell with an earnout arrangement. Patrick Huang of Argyle Lawyers will tell you how to treat these for tax purposes.
32 | Debt or Equity
Is it debt or equity? Scott Treatt of Pitcher Partners will walk you through Div 974 that governs the classification of debt and equity.
29 | Car Parking Fringe Benefits
Car parking can turn into a fringe benefit over time. Claire Thornett of WLF will tell you how, when and to what extent.
24 | NSW Payroll Tax Exemptions And Rebates
Payroll exemptions and rebates are not harmonised across Australia. Here are Andrew Fricot and Ankur Dhar of Revenue NSW with the details.
22 | Meal Entertainment Fringe Benefits
Meal entertainment is confusing. There are so many moving parts that it is easy to lose track. Claire Thornett of WLF in Hobart is here to take us out of this confusion.
21 | Payroll Tax Grouping Provisions
The payroll tax grouping provisions play a huge role. Here are Andrew Fricot and Ankur Dhar of Revenue NSW with the ins and outs of grouping.
12 | Payroll Tax Contractor Provisions
Payments to contractors can be subject to payroll tax if paid under a 'relevant contract'. Andrew Fricot and Ankur Dhar of Revenue NSW will tell you more.
1 | Payroll Tax
Most of Australia's payroll tax legislation is harmonised across Australia. Andrew Fricot and Ankur Dhar of Revenue NSW will show you.
Articles
73 | Div 43
The deductions under Div 43 make up the bulk of a property investors deductions. And the good news is that the changes to Div 40 don't affect Div 43.
72 | Div 40
Div 40 is about the deprecation of plant and equipment. Since 2017 significantly curtailed but still better than nothing.
70 | Div 7A UPE
The scenario of a Div 7A UPE can result in a huge tax bill. UPE stands for unpaid present entitlement.
61 | Structuring Business and Wealth
When structuring business and wealth, tax is just one part of the equation. It is a balancing act of many objectives. And a question of priorities.
55 | Affiliates and Connected Entities
The concept of affiliates and connected entities plays a crucial role around the small business CGT concessions.
54 | Subdiv 328-G
The restructure rollover in Subdiv 328-G is a useful tool in the arsenal of tax concessions assisting small business.
42 | Are Unit Trusts Fixed
A unit trust is a very common feature in Australia. Most widely held trusts are unit trusts. But when are unit trusts fixed trusts and when not?
36 | Basic Conditions for an Asset Sale
The basic conditions are the biggest hurdle to take before you can claim the small business CGT concessions. If you get over these, you are on the home run.
33 | Who Pays the Income Tax for a Trust
Beneficiaries and/or trustee pay the income tax for a trust. But who pays how much?
30 | Division 6 ITAA36
Division 6 ITAA36 is the foundation for the taxation of trusts. Everything else wraps around Division 6.
29 | What is a Trust
There are more than 800,000 trusts in Australia with assets totalling more than $3 trillion. But what is trust?
27 | Tax Audits
Tax audits frighten most taxpayers and tax agents. They cost time and money. And you never know for sure how it will end.
21 | Are tolls car or travel expenses
Tolls are travel expenses and subject to GST (just in case you were wondering). And it makes sense when you think about it.
20 | 50% CGT Discount
The 50% CGT discount in Div 115 has saved millions of taxpayers billions of dollars since it was first introduced on 20 September 1985.
19 | Tax Rulings
Tax rulings form an important part of Australia's tax framework. They plug the holes that our tax laws leave behind.
18 | Net Capital Gain
Calculating your capital gain or loss is only the first part of the exercise. The second part is working out the amount of your net capital gain.
17 | ATO Penalties and Interest
The Commissioner has the power to levy administrative penalties against taxpayers. ATO penalties and interest are some of the Commissioner's powers to keep taxpayers in line.
16 | Lodging an Objection
Lodging an objection is a first step. When you don't agree with the ATO and want to do something about it.
14 | Tax Evasion
Tax evasion is a heavy word. Accuse somebody of tax evasion and you surely get their attention. But what is tax evasion?
13 | Amendment Periods
Amendment periods can work for or against you, depending on who wants to change what and when.
1 | Commissioner’s Effective Life of Depreciable Assets for 2019
The Commissioner publishes a Taxation Ruling each year listing the effective life of depreciable assets. Here is a handy overview for small operators.
Tax Talks
Tax Talks is Australia’s tax news podcast for tax professionals. Informative, entertaining and free.
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