Home office substantiation
Home office deductions: What substantiation will the ATO accept?
Small Business Tax Concessions
For small businesses, the small business tax concessions offer substantial CGT concessions when selling or transferring business and are a core aspect of most restructures. There are four main concessions that can be implemented, some of which are able to be utilised concurrently with other concessions. This is a specialist area that, if properly utilised, […]
Asset Protection Strategies
The implementation of proper asset protection is a strategy that is often recommended, but we find is rarely followed through until it is too late. In developing asset protection strategies, we look at the entire group, identifying risks, managing these risks and ensuring that assets are not unnecessarily exposed. All businesses benefit from asset protection […]
Guide to Wind Up Notices
For a business, the receipt of a wind-up notice can be one of the worst things that can happen. From the moment you receive the notice the clock is ticking, and you have a short period of time in order to deal with the notice and its consequences. It is important to get advice as […]
Small Business Restructure Rollover
On 12 May 2015, the new Small Business Restructure Rollover was announced, commencing on 1 July 2016. This permitted small business owners to change their legal structure without attracting a taxation liability. This exemption is similar to accessing the small business rollover relief, but with a focus on a restructure from an entity that may […]
Remember the (estate planning) basics
It is an unfortunate fact that although most people understand the fundamental importance of estate planning, it is an area of financial management that is often neglected. Why? Is it because people don’t like talking about death? Are they a bit confronted by their own mortality? Do they not want to tempt fate? Or is […]
Selling your house as a non resident
You may lose the main residence exemption if you sell after 1 July 2019 What happened? Currently, any individual (regardless of their tax residency status) who sells their home can qualify for either: However, there is currently a Bill2 before Parliament that, if enacted, will mean that any individual vendor that is a non-resident (for tax purposes) […]
Managing Cash in a SMSF
The cornerstone to any successfully operating self-managed super fund (SMSF) is its bank or cash account. After all, it’s the first thing that will be opened whenever an SMSF is established.
Ask the accountant
When you are about to make that next big business decision are you often left wondering whose advice you should seek? Your accountant should be your first point of call. Whilst many people often underutilise their accountants, it is important to remember they have a wide range of experience and skills that business owners should leverage […]
Basics for a mortgage
Getting ready to buy your first home? This is an exciting time, but it can also be an overwhelming one. Even though taking out a mortgage on a home is something that you probably grew up expecting to do, there are still a lot of complexities within the process, many of which are easy to […]
