What counts towards to super cap
The transfer balance cap applies to the total amount of superannuation that has been transferred into retirement phase. The balance of assets in pension phase can be held across several accounts, so the number of accounts is immaterial. The amount of the lifetime cap will start at $1.6 million, and will be indexed periodically in $100,000 […]
C&D Advisory Newsletter Issue 1
Proudly debuting the first edition of C&D Restructure’s monthly newsletter. We’ll be using this newsletter to celebrate our team’s achievements, share comprehensive resources authored by our experienced consultants, and talk about important industry issues impacting our peers and clients. Newsletter Issue 1
Business Liquidation
When a business gets into trouble, it has a number of insolvency options. Whether you’re an advisor to a business in financial strife or you’re in charge of such a business, liquidation is one possible outcome. However, many people are surprised to discover that even profitable, thriving businesses may choose to enter liquidation. But why […]
PPSR: Traps for Business Owners
Since the implementation of PPSA in 2012 there has been a lot of myth and misunderstanding about the importance of it, and why every business owner needs to be across it.
FBT and cars
The provision of cars by employers to employees remains an issue that continues to create confusion for some business taxpayers. A not-uncommon situation is where the employer fails to identify that a car fringe benefit has been provided. This is typically found in family companies or trusts where a car bought by the business is […]
Basic in house assets
A not-uncommon conundrum for many SMSF trustees is what to do when the fund is found to have breached the in-house asset rules. There are also some common misconceptions about these regulations that keep resurfacing. What does the ATO say in relation to the in-house asset rules? Recent ATO statistics on the SMSF sector show […]
Tax and sharing economy
The concept of a “sharing economy” has been around for long enough now to have had a very real impact on how we transact. Think Uber, think Airbnb. By now, most people will have realised that the “sharing” part of the concept does not refer to an absence of any monetary exchange, but rather to […]
FBT and entertainment
In the run up to the end of the FBT year, the ATO reminds employers that a fringe benefit may be provided byanother person on behalf of an employer, but may also be provided to another person on behalf of an employee (for example, a relative). As far as “entertainment” goes, the ATO says such benefits include providing: Recreation includes […]
Ride sharing is a taxi for expenses
The Federal Court has handed down a decision in a case that deems ride-sourcing is taxi travel within the meaning of the GST law. If the applicant in this particular case appeals this decision, the ATO has announced that it will continue to administer the law according to its already published advice until there is […]
Litigation funding for ATO cases
The ATO says it can help fund some reasonable litigation costs if the outcome of a particular case will affect a significant number of taxpayers by: Funding litigation costs for tax cases Its test case litigation program was established to fund cases that have broader implications beyond individual disputes with the ATO. The program can […]
